As a member state of the European Union and a member of the International Energy Agency (IEA), Hungary has the obligation to hold at least one quarter (90 days) of its annual net imports of oil products as strategic stocks. In 2006, Hungary introduced the strategic stockpiling of natural gas in order to improve the security of natural gas supply.
The Hungarian Hydrocarbon Stockpiling Association (HUSA) – as the central stockholding entity – acquires, maintains and sells emergency stocks. These stocks may be released in the event of major disruptions or crises in the supply of crude oil, petroleum products and natural gas. Strategic stocks are the property of the Association and are stored in storage facilities in Hungary. Market players engaged in the trade of petroleum products or natural gas are obliged by the stockpiling laws to register in the Association as members. They have to pay contribution fees based on monthly turnover. The contribution fee income should at all times cover the expenses of the Association. The Association is a non-profit organisation that prepares a budget every year in order to meet its financial responsibilities.
|Phone:||+36 (1) 430-3300|
|+36 (1) 430-3310|
|Fax:||+36 (1) 430-3311|
|Montevideo u. 16/B|