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Wednesday, September 22, 2021

Hungary. Budapest has reached an agreement with Gazprom on a long-term gas supply agreement

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We reached an agreement with Gazprom and agreed on the details of a long-term agreement on gas supplies to Hungary, said the head of the Hungarian Ministry of Foreign Affairs, Peter Szijjarto, in a recording from St. Petersburg posted on social media.

– The long-term gas purchase agreement concluded in 1995 between Hungary and Russia is now expiring. That is why it was decided that our homeland, in order to achieve a long-term, stable and predictable security of energy supply, will conclude a new long-term gas purchase agreement with Russia. Today we have agreed all the details and all issues related to this agreement, said Szijjarto after talks with the head of Gazprom, Alexei Miller.


Agreement between Hungary and Gazprom on gas supplies

He noted that the agreement was valid for 10 plus 5 years, which means that after 10 years there will be a reduction in the purchased quantity, which amounts to 4.5 billion cubic meters. annually.

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Gazprom will deliver this amount to Hungary via two routes: 3.5 billion cubic meters. from the south via Serbia and the remaining 1.5 billion via Austria.

Szijjarto emphasized that a price had also been agreed, which, in his words, was more favorable than what Hungary has paid so far. However, he did not mention its height.

The agreement is to be signed by the end of September, and on the basis of it, gas transport to Hungary will start on October 1.

The minister added that from the point of view of Hungary’s national security and sovereignty, ensuring long-term energy supply is a matter of fundamental importance, and not only Hungarian but also European trends indicate the growing role of gas.

Main photo source: Europolgaz

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