US EditionRussian-Gas Dependent Hungary Signs Supply Deal with France's Engie
Hungary will purchase 400 million cubic meters of liquefied natural gas annually from ENGIE for 10 years starting 2028 to reduce reliance on pipeline imports and enhance energy security.
- In Budapest, the government announced on Thursday, October 2, that Hungary signed its longest-term LNG purchase agreement with ENGIE, committing to 400 million cubic meters annually from 2028 to 2038.
- Citing geography, Szijjártó said Hungary's landlocked status forces it to buy energy where pipeline routes lead and that diversification means adding sources without replacing existing suppliers amid EU pressure to phase out Russian fossil fuels.
- The ministry said the sale was struck between MVM CEEnergy and ENGIE Energy Marketing Singapore, with Szijjártó calling it "an important step for Hungary's energy security," Engie's management told AFP.
- Szijjártó added that the Hungarian government views ENGIE as a guarantor of energy security and is prepared to expand future expansion plans in the coming years.
- Despite the new LNG deal, Budapest retains a 15-year Gazprom contract for 4.5 billion cubic meters through 2036, amid Hungary's annual consumption of about 8.5 billion cubic meters and recent imports of 7.8 billion cubic meters.
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Hungary Signs Historic LNG Deal with France’s ENGIE to Bolster Energy Security - Hungarian Conservative
Hungary has concluded the longest liquefied natural gas (LNG) supply agreement in its history with the French company ENGIE, Foreign Minister Péter Szijjártó announced in Budapest on Thursday. Under the contract between MVM CEEnergy and ENGIE Energy Marketing Singapore, Hungary will purchase 400 million cubic metres of LNG annually over a ten-year period from 2028 to 2038, totalling 4 billion cubic metres. Szijjártó called the deal a milestone f…
Hungary announced a ten-year gas supply deal with French company Engie on Thursday, although it remains heavily dependent on Russian fossil fuels.
Under pressure from EU member countries, Hungary, one of the last two countries in the Old Continent to do business with Russia, signed a contract with Engie.
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