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Hungary and Russia conclude long-term agreement on delivery of natural gas

“We intend to enter into a 15-year contract, with flexible pricing,” the foreign minister said.

Following talks with Gazprom CEO Alexey Miller, the foreign minister said Hungary and Russia have agreed to conclude a long-term agreement on the delivery of natural gas from Russia to Hungary.
 
“We intend to enter into a 15-year contract, with flexible pricing,” Péter Szijjártó, Minister of Foreign Affairs and Trade, said on the sidelines of the St Petersburg International Economic Forum. The minister said the agreement would ensure long-term gas supply security, noting that the current deal expires at the end of September. Prices, however, are yet to be negotiated, he said. “What I can say is that the agreements I have brokered before with the head of Gazprom have all been fulfilled completely, so there’s no need for us to have any doubts this time, either.”

The minister said construction on a gas pipeline linking the Hungary-Serbia border to Hungary’s gas pipeline network is set to be completed by Oct. 1, enabling the delivery of large quantities of gas to Hungary. Serbia has completed its part of the project, adding that it was now up to energy companies to discuss the practical aspects.

Minister Szijjártó said he had also discussed the potential acceleration of the upgrade of Hungary’s nuclear power plant in Paks with Rosatom CEO Alexey Likhachev, and everything was set for the next phase of construction to begin by the end of Sept.