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May 28, 2018

Hungary secures deal on natural gas supply and price

Péter Szijjártó, minister of Foreign Affairs and Trade, said an agreement has successfully been reached on the quantity and price of next year’s Gazprom natural gas shipments to Hungary, in addition to which negotiations have also begun on gas shipments for 2020

Hungary has pinned down a deal with Gazprom, it has been revealed.

Péter Szijjártó, minister of Foreign Affairs and Trade, said an agreement has successfully been reached on the quantity and price of next year’s Gazprom natural gas shipments to Hungary, in addition to which negotiations have also begun on gas shipments for 2020.

“Thanks to our efficient cooperation with Russia, Hungary’s natural gas supply has also been assured for the upcoming years,” Minister Szijjártó said. He also pointed to the fact that the long-term Hungarian-Russian gas purchasing agreement currently in effect is valid until 2021.

On an official visit to St. Petersburg, the minister met with Russian Foreign Minister Sergei Lavrov, Industry Minister Denis Manturov, Deputy CEO of Rosatom Kirill Komarov and other prominent figures.

Minister Szijjártó said the preparative work for a gas supply point to provide Hungary with natural gas from the south is continuously ongoing. He added that in accordance with the agreements previously concluded with Bulgaria and Serbia, further quantities of natural gas will be arriving in Hungary from the south thanks to the modernization of the Bulgarian and Serbian gas pipeline systems.

“The Paks Nuclear Power Station expansion project, which will guarantee Hungary’s long-term competitiveness and low public utility costs, is moving forward according to schedule. All of the environmental permits required for construction have come into effect and are legally binding, and all EU barriers have also been lifted,” he said.

“We will be opening the construction site to Rosatom at the end of February, and the implementation of the financing agreement has also begun,” added.