Hungary signed an agreement on gas supplies from France, reducing dependence on the Russian Federation
Hungary signed the largest ever contract for the supply of liquefied natural gas with the French company Engie. This is the second agreement in the last two months, which will help diversify supplies and reduce dependence on Russia. This reports Reuters agency.
Last month, US President Donald Trump said he would call on Hungary to stop buying Russian oil as part of pressure on NATO allies to cut energy ties with Moscow over its war on Ukraine.
Prime Minister of Hungary Viktor Orban replied that the rejection of Russian energy carriers would be a “catastrophe” for the Hungarian economy. On Thursday, Hungarian wholesale natural gas trader MVM CEEnergy agreed to buy 400 million cubic meters of gas per year from Engie from 2028 to 2038.
This agreement complements the contract concluded last month with Shell, under which Hungary will buy 200 million cubic meters of gas per year from January 2026 – about 2.5% of the country’s needs. During the signing ceremony with Engie, Foreign Minister Peter Szijjarto noted that this is the longest LNG supply contract in Hungary’s history and will become a “pillar of the country’s energy security.”
At the same time, Engie did not specify the origin of gas for Hungary. European LNG buyers and traders typically build a portfolio from multiple sources — the US, the Middle East, Africa and Australia.
