Hungary has signed a ten -year contract with the French Group Engie to receive liquefied natural gas (LNG), the Minister of Foreign Affairs and Hungarian trade announced Thursday, throwing a fart from Szijarto.
The agreement, concluded between the public company Hungarian MVM Ceenergy and Engie Energy Marketing Singapore, establishes the annual delivery of 400 million cubic meters of LNG between 2028 and 2038, a total of four billion cubic meters.
Informed to Hungarian gas consumption: approximately 8.5 billion cubic meters in 2023, this volume only represents 4.5% of the country’s annual demand, but this agreement illustrates an attempt to diversify the supply of Hungary that refuses to renounce Russian gas.
According to the latest figures, Hungary imported about 7.8 billion cubic meters between October 2023 and September 2024.
“Important step”
Szijjarto braces emphasize that “this contract (…) marks an important step for Hungary energy security”, insisting on the importance of the diversification of suppliers.
“This agreement helps Hungary and the region (central and eastern Europe) to diversify its gas supply sources,” said the Engie Directorate, a French historical gas supplier that is in LNG for its clients thanks to long -term contracts, especially in Algeria and the United States.
The conclusion of this agreement occurs, while the European Commission presented a roadmap aimed at ending Russian gas imports in the European Union (EU) at the end of 2027. Brussels wants to prohibit new contracts this year, then gradually extinguish all deliveries two years later.
In 2024, Russia still assumed 19% of the EU gas supply, of which almost half in the form of LNG.
The president of the United States, Donald Trump, said he was ready to take new sanctions against Russia, but on the condition that Europeans stop buying Russian hydrocarbons, of which they are one of the main sources of financing the Russian warfat against Ukraine.
Source: BFM TV
