Under the agreement, Hungary will buy 4.5 billion cubic meters of gas a year from Gazprom, including 3.5 billion delivered from the south, through Hungary’s interconnector with Serbia, and 1 billion via the pipeline running from Austria. Minister Szijjártó said the price the sides agreed on is much better than the one in the delivery agreement expiring this year. Hungary signed its last long-term agreement on gas deliveries from Russia in 1995.
Hungary and Russia finalize long-term gas deal
Aug 31, 2021
“To ensure Hungary’s long-term stable, predictable energy supply, a decision has been taken to reach a new long-term gas supply agreement with Russia,” Péter Szijjártó said.
Péter Szijjártó, Minister of Foreign Affairs and Trade, has confirmed that Hungary has worked out "all details" and "all issues" of a long-term gas delivery agreement with Russia that will replace the one expiring this year.
“To ensure Hungary’s long-term stable, predictable energy supply, a decision has been taken to reach a new long-term gas supply agreement with Russia,” Péter Szijjártó said in a video message from Saint Petersburg. “Today, we have agreed on all details and all issues concerning that agreement. We shook hands on that.” Minister Szijjártó said the text of the agreement will be finalised in September. The agreement will be signed at the end of September and come into force from October 1, he added. The agreement will be in force for 10+5 years, with an option to modify delivery volume after the tenth year, he said.