Hungary secures 2020 gas imports from Russia

Hungary signed an agreement with Russia's Gazprom for the delivery of the country's natural gas needs for 2020, Minister of Foreign Affairs and Trade Péter Szíjjártó said in Moscow.

Hungary's natural gas supply for 2020 will be assured even if Russia and Ukraine fail to extend their gas transit agreement that expires at the end of this year, Minister of Foreign Affairs and Trade Péter Szíjjártó said in Moscow.

"We must be prepared for such a scenario as we always must plan for the worst scenario when assuring the country's gas supply," Szíjjártó said.

Hungarian natural gas consumption is around nine billion cubic meters (bcm) per year, with some 20 percent coming from domestic gas fields, but the bulk of the remaining 80 percent is - directly or indirectly - provided by Russia.

"Today we concluded an agreement with the CEO of Gazprom that regardless whether there is a transit agreement between Russia and the Ukraine, Gazprom will ensure Hungary's supply", Szíjjártó said, adding that the agreed upon amount will be delivered this year.

Hungary has a gas storage capacity of 6.3 bcm, meaning that a full year's imports can be stored in advance.

Title image: Gazprom CEO Alexey Miller (L) and Hungarian Minister of Foreign Affairs and Trade Péter Szíjjártó (R) meet in Moscow (MTI/MFA, Mitko Sztojcsev)

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