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Message: European Second Strategic Energy Review (SER-2)

This is from the International Energy Agency, 2006 Hungary Country Review.

This is the latest review thats available for download, but certainly demonstrates that the activities in the Mako trough do not go unnoticed.





SUPPLY AND DEMAND

Supply

Exploration and production

Hungary produced 2.4 Mtoe or 2.61 bcm of natural gas in 2004, a significant
decline of 38% from the 4.9 bcm produced in 1990. Production peaked
around 1985, and has declined by an annual average of 3.2% since 1990.
It is expected that production will decline further in the future, to 1.8 Mtoe
or 2.0 bcm in 2010, by 15%. Conventional exploration activity for new
gas resources is focused on eastern and southern Hungary, and some
new unconventional potential deposits were discovered in south-eastern
Hungary, where TXM is undertaking exploration in very great depths of
5 000 to 6 000 metres.
Domestic production accounted for 19.3% of total
supply in Hungary in 2005. The main producer of natural gas in Hungary is
the integrated oil company MOL (see next section on Oil), producing 2.6 bcm
in 2005. The only other producer is Winstar, with a production of 0.3 to
0.35 bcm in 2005. Proven reserves of MOL fell from 29.25 bcm in 2004 to
27.5 bcm in 2005, sufficient for nine years at the current rate of production.
A potential new producer, Toreador, plans to open production from a gas
condensate field at Örményes. With the predicted increase in demand, and
reduction in production over the coming years, the government expects that
domestic production will cover 14.4% of consumption by 2010, and 9%
by 2020.

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