Hungary Oil and Gas Report

 Published On: Sep, 2016 |    No of Pages: 72 |  Published By: BMI Oil and Gas | Format: PDF
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BMI View: With small and declining hydrocarbon reserves, no exploration or field development activities taking place and a ban on hydraulic fracking, Hungary holds a very weak position in the upstream sector. While the country boasts an efficient downstream sector, rapidly rising domestic fuels consumption will turn Hungary into a net importer of refined products in 2018.

Latest Updates And Structural Trends
-According to reports in Natural Gas Europe, UK-listed JKX Oil and Gas will increase its focus on gas prospects in Hungary and Slovakia in 2016, after the company faced disappointing results in Ukraine during 2015. JKX Oil and Gas has 100% interest in six production licences in Hungary.
-As of April 2016, Hungary and Croatia were negotiating bidirectional flows of natural gas between the two countries (ICES). Hungary expects to import natural gas from Croatia after the completion of Krk LNG project on Croatia's Adriatic shore.
-Hungary has very small proven oil and gas reserves and, currently, there are no exploration activities taking place in the country. We do not expect our bearish forecasts to change in the foreseeable future as the government has imposed a ban on hydraulic fracking.

BMI Industry View ... 7
Table: Headline Forecasts (Hungary 2014-2020) . . . 7
Latest Updates And Structural Trends ....... 7
SWOT ...... 9
Oil & Gas SWOT 9
Industry Forecast .. 11
Upstream Exploration 11
Latest Updates 11
Structural Trends ..... 11
Table: Proven Oil And Gas Reserves (Hungary 2014-2019) . 12
Table: Proven Oil And Gas Reserves (Hungary 2020-2025) . 12
Upstream Projects ..... 13
Table: Hungary - Main Upstream Projects . . . . 13
Upstream Production - Oil ... 14
Latest Updates 14
Structural Trends ..... 14
Table: Oil Production (Hungary 2014-2019) . 15
Table: Oil Production (Hungary 2020-2025) . 16
Upstream Production - Gas .. 17
Latest Updates 17
Structural Trends ..... 17
Table: Gas Production (Hungary 2014-2019) . 18
Table: Gas Production (Hungary 2020-2025) . 19
Refining . 20
Latest Updates 20
Structural Trends ..... 20
Table: Refining Capacity And Refined Products Production (Hungary 2014-2019) . 22
Table: Refining Capacity And Refined Products Production (Hungary 2020-2025) . 22
Refined Fuels Consumption .. 23
Latest Updates 23
Structural Trends ..... 23
Table: Refined Products Consumption (Hungary 2014-2019) . . . . 24
Table: Refined Products Consumption (Hungary 2020-2025) . . . . 25
Gas Consumption ...... 26
Latest Updates 26
Structural Trends ..... 26
Table: Gas Consumption (Hungary 2014-2019) . . . 27
Table: Gas Consumption (Hungary 2020-2025) . . . 28
Trade - Oil ...... 29
Crude Oil ...... 29
Latest Updates 29
Structural Trends ..... 29
Table: Crude Oil Net Exports (Hungary 2014-2020) . . . 30
Table: Crude Oil Net Exports (Hungary 2020-2025) . . . 31
Refined Products ...... 31
Latest Updates 31
Structural Trends ..... 31
Table: Refined Fuels Net Exports (Hungary 2014-2019) . . . . 32
Table: Refined Fuels Net Exports (Hungary 2020-2025) . . . . 33
Trade - Gas (Pipeline And LNG) .... 34
Latest Updates 34
Structural Trends ..... 34
Table: Gas Net Exports (Hungary 2014-2019) 36
Table: Gas Net Exports (Hungary 2020-2025) 36
Industry Risk Reward Index ... 38
Central And Eastern Europe Oil & Gas Risk/Reward Index ..... 38
Table: CEE: High Risk, Low Reward 38
Table: CEE Upstream, Downstream And Overall Risk/Reward Indices . . . . 39
Table: CEE Upstream Risk/Reward Index 42
Downstream: Turkish STAR Only Bright Spot In Weak Market ........ 42
Table: CEE Downstream Risk/Reward Index . 45
Hungary - Risk/Reward Index ........ 46
Upstream Index - Overview . 46
Upstream Index - Rewards .. 46
Upstream Index - Risks ...... 46
Downstream Index - Overview ...... 47
Market Overview ... 48
Hungary Energy Market Overview .. 48
Regulatory Structure . 48
Fiscal Regime . 48
Licensing Regime ..... 49
Oil And Gas Infrastructure ... 50
Oil Refineries . 50
Table: Refineries In Hungary . . 50
Service Stations ....... 51
Oil Storage Facilities 51
Oil Pipelines .. 51
Gas Storage Facilities ........ 52
Gas Pipelines . 52
Table: Gas Pipeline Infrustucture . . . 52
Competitive Landscape . 53
Competitive Landscape Summary .. 53
Table: Key Players - Hungary Oil & Gas Sector . . . 54
Table: Key Upstream Player . . . 54
Table: Key Downstream Players . . . . 54
Company Profile .... 55
MOL ..... 55
Table: Major Upstream Assets in Hungary . . . . 56
Table: Key Financial Data (USDmn) 57
Regional Overview 58
Central And Eastern Europe Oil & Gas Regional Overview ..... 58
Oil Production: Oil Powerhouses Falter On Weak Prices ...... 58
Oil Consumption: Short-Term Weakness As Russia Struggles . 59
Refining Capacity: Modernisation Key To Competing .. 60
Natural Gas Production: Gas Ramp-Up Demand-Dependent . 61
Table: Central Asia-China Gas Pipeline Expansions . . . 62
Gas Consumption: Demand Falters On Struggling Economies 63
Table: Central & Eastern Europe Oil & Gas Production & Consumption, Refining Capacity & Trade . 64
Glossary ........ 65
Table: Glossary Of Terms . 65
Methodology . 67
Industry Forecast Methodology .... 67
Source . 69
Risk/Reward Index Methodology ... 69
Table: Bmi's Oil & Gas Upstream Risk/Reward Index . . 71
Table: Weighting 72
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