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Hungary Secures LNG Supply Agreement with US
(MENAFN) Hungary has finalized an agreement to purchase a combined volume of 2 billion cubic meters of liquefied natural gas (LNG) from the United States over a five-year period, according to a statement made on Tuesday by the country’s foreign minister.
Highlighting the significance of the development, Foreign Minister Peter Szijjarto announced the deal on the US social media platform X, stating, "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."
Under the arrangement, a total of 2 billion cubic meters of LNG will be delivered to Hungary during the next five years. The agreement was concluded after Hungary’s state-owned energy provider, MVM, entered into a contract with the US-based energy corporation Chevron.
Emphasizing Budapest’s broader energy strategy, Szijjarto stressed diversification as a key priority, noting, "We are interested in purchasing energy from as many sources and via as many routes as possible, ensuring the lowest prices."
Hungary has consistently underscored the importance of safeguarding its energy security and, in this context, has repeatedly voiced resistance to ending imports of Russian oil.
Highlighting the significance of the development, Foreign Minister Peter Szijjarto announced the deal on the US social media platform X, stating, "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."
Under the arrangement, a total of 2 billion cubic meters of LNG will be delivered to Hungary during the next five years. The agreement was concluded after Hungary’s state-owned energy provider, MVM, entered into a contract with the US-based energy corporation Chevron.
Emphasizing Budapest’s broader energy strategy, Szijjarto stressed diversification as a key priority, noting, "We are interested in purchasing energy from as many sources and via as many routes as possible, ensuring the lowest prices."
Hungary has consistently underscored the importance of safeguarding its energy security and, in this context, has repeatedly voiced resistance to ending imports of Russian oil.
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