On Friday, Hungary’s Foreign Minister Peter Szijjarto said that the country has signed a deal to buy 250 mcmpa of liquefied natural gas (LNG) for six years from Royal Dutch Shell Plc. It was the country’s first gas supply agreement with a Western firm.
By closing the deal, Hungary has secured a lot of its capacity with the Krk terminal set to start operating in the upcoming few months.
All these time, the country has been dependent on mostly Russian gas and has never had a long-term supply agreement with any supplier other than Russia’s Gazprom. However, the country has also signed a 6.2 bcm deal with Gazprom.
