403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Hungary Secures Five-Year U.S. Natural Gas Deal
(MENAFN) Hungary secured a landmark energy agreement Tuesday to purchase 2 billion cubic meters of liquefied natural gas from the United States across a five-year timeframe, the nation's top diplomat announced.
"Today we have reached an important milestone in American-Hungarian energy cooperation by signing a contract for 400 million cubic metres of LNG a year," Foreign Minister Peter Szijjarto declared on X, the US social media platform.
The comprehensive deal involves annual shipments of 400 million cubic meters, culminating in 2 billion cubic meters of LNG flowing to Hungary through 2030. State-owned energy enterprise MVM finalized the contract with American energy giant Chevron.
Budapest Pursues Diversification Strategy Amid Energy Crisis
"We are interested in purchasing energy from as many sources and via as many routes as possible, ensuring the lowest prices," Szijjarto emphasized in his statement.
The agreement represents Budapest's latest effort to expand its energy portfolio, though the government has consistently defended maintaining economic ties with Moscow. Hungarian officials have repeatedly rejected calls to terminate Russian oil imports, invoking national energy security concerns as justification for preserving those commercial relationships.
The diversification move comes as European nations navigate volatile energy markets and seek alternatives to traditional supply chains.
"Today we have reached an important milestone in American-Hungarian energy cooperation by signing a contract for 400 million cubic metres of LNG a year," Foreign Minister Peter Szijjarto declared on X, the US social media platform.
The comprehensive deal involves annual shipments of 400 million cubic meters, culminating in 2 billion cubic meters of LNG flowing to Hungary through 2030. State-owned energy enterprise MVM finalized the contract with American energy giant Chevron.
Budapest Pursues Diversification Strategy Amid Energy Crisis
"We are interested in purchasing energy from as many sources and via as many routes as possible, ensuring the lowest prices," Szijjarto emphasized in his statement.
The agreement represents Budapest's latest effort to expand its energy portfolio, though the government has consistently defended maintaining economic ties with Moscow. Hungarian officials have repeatedly rejected calls to terminate Russian oil imports, invoking national energy security concerns as justification for preserving those commercial relationships.
The diversification move comes as European nations navigate volatile energy markets and seek alternatives to traditional supply chains.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment