Hungary’s gas system was well-prepared to weather the 2022 gas crisis, underpinned by its robust cross-border import capacities and extensive storage infrastructure. The country successfully navigated the 2022/2023 heating season without a real emergency, with the primary concern centred on the substantial escalation in gas import costs relative to GDP. Nevertheless, the government assessed that maintaining affordability and supply stability necessitated the continuation of Russian gas imports, particularly while the legally binding long-term gas supply contract is still in effect, at least until 2031. Normal working relations have been preserved between Hungary and Russia, facilitated by the active engagement of Hungary’s Foreign Minister. Not only have Russian gas deliveries continued uninterrupted, but Hungary has also increased its imports from Russia. Initially, this was required to build up special gas stocks. Subsequently, the cheaper Russian gas has been leveraged for trade purposes, also reflecting Hungary’s efforts to establish itself as a regional gas hub—a long-standing aspiration shared by several Central and East European countries. The cautious and incremental steps taken towards diversifying Hungary’s gas import sources can be contextualised by the potentially higher costs associated with non-Russian sources.