Russian gas for Hungary is mostly through Serbia

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BUDAPEST: Hungary has reached an agreement with Russia on all conditions of the new long-term gas supply agreement, which will enter into force on October 1, Foreign Minister Peter Sijarto announced on his Facebook profile today, emphasizing that the largest quantities will be delivered via Serbia

Sijarto stated that the new contract with Gaprom refers to a period of 15 years, with the possibility of modifying the amount of purchases after 10 years, Reuters reports.

“We also agreed on a price that is much more favorable than the one we paid according to the agreement signed in 1995, which is now expiring”, he added, without giving specific details about the price.

Sijarto stated that the contract will be signed by the end of September, and that Gazprom will annually deliver 4.5 billion cubic meters of natural gas to Hungary via two routes – 3.5 billion cubic meters will go through Serbia, and one billion cubic meters through Austria

According to him, the majority of deliveries will arrive under the new contract through a new interconnector on the Hungarian-Serbian border, which will be operational by October.

Gazprom announced that a meeting was held with the Hungarian Minister of Foreign Affairs, but they did not give any details.

Hungary relies heavily on Russia for natural gas imports, which have so far been delivered through Ukraine, but has diversified imports in recent years by opening cross-border interconnectors with most of its neighbors and securing supplies of liquefied natural gas from Royal Dutch Shell from the Krk island terminal.

Source: Dnevnik