Hungary 's energy sector need to focus more on gas and electricity interconnection with its neighbors and on the development of its transmission infrastructure, figures from industry said Thursday.

" Hungary is in a remarkable location to become a regional [energy] hub, but further transit capacities are essential," Philippe Bourguignon, chief executive officer of Gaz de France-Suez Magyarorszag Zrt., the Hungarian arm of GDF Suez S.A. (GSZ.FR), said at a conference organized by the Central European Business Center .

Although Hungarian regulation of electricity and gas exports and imports isn't restrictive, in practice, the free flow of energy across borders is still a long way off, Bourguignon told Dow Jones Newswires on the sidelines of the conference.

" Hungary is currently an island," Bourguignon said.
 
Interconnectivity would be essential for the country's energy security, as interconnected countries in central and Eastern Europe would become a major regional presence, even when compared to Russia , said Vladimir Socor, senior fellow at research institute Jamestown Foundation.

"Creating a regional gas market is top priority," Socor said.

Another important factor to boost energy security would be increasing market transparency, said CEZ Magyarorszag Zrt. Chief Executive Officer Gabor Hornai. CEZ Magyarorszag is a subsidiary of Czech power firm CEZ AS (BAACEZ.PR).
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