Hungary signs contract with US for supply of liquefied gas
Photo: Hungary signs a gas import contract with the US (X.com/Péter Szijjártó)
Hungary has signed a five-year contract with the US for the supply of liquefied natural gas, according to Hungarian Foreign Minister Péter Szijjártó on Twitter (X).
According to Szijjártó, the contract was signed for 400 million cubic meters of liquefied natural gas per year.
This means that over the next five years, Hungary will receive two billion cubic meters of American LNG, the minister explained.
"We are interested in purchasing energy from as many sources and via as many routes as possible, ensuring the lowest prices," he emphasized.
EU’s phase-out of Russian gas
In May 2022, the European Commission presented the REPowerEU plan, which aims to completely end the import of Russian oil and gas by EU countries by 2027.
Slovakia and Hungary opposed the plan. In September, Hungarian Prime Minister Viktor Orbán again stated that his country would not give up Russian gas, citing two reasons. According to him, first, abandoning it would require finding alternative supply routes, and second, giving up cheap Russian energy would automatically necessitate raising prices for the population.
Orbán also added that any changes in energy supplies affect not only the country’s economy but also its defense capabilities.
In early December, representatives of the European Council and the European Parliament reached a preliminary agreement to fully stop the import of Russian natural gas by 2027.
Under the agreed rules, imports will be completely halted by 30 September 2027. Gas purchases made without prior contracts will cease by June 2026.
Supplies of liquefied gas under long-term contracts are to end on 1 January 2027, while pipeline gas supplies will end on 30 September 2027.
After this, Estonian President Alar Karis suggested that Hungary should be offered assistance to pay fines for terminating energy agreements with Russia.
