“Hungary has signed the longest-term liquefied natural gas (LNG) procurement contract in its history with French company ENGIE,” announced Péter Szijjártó, Minister of Foreign Affairs and Trade.
Under the contract between the state-owned MVM CEEnergy and ENGIE Energy Marketing Singapore, Hungary will purchase 400 million cubic metres of LNG annually from the French energy company between 2028 and 2038, amounting to a total of four billion cubic metres.
“This is an important milestone for Hungary, as our network of cooperation has expanded with another reliable partner. We are pleased that ENGIE will henceforth be among the guarantors of Hungary’s energy security, and of course, we are ready to further develop this partnership,” said the minister, adding that Hungary has carried out several hundred million euros’ worth of developments in recent years, resulting in gas transmission connections with six of its seven neighbouring countries.
A recently concluded agreement with Shell is also valid for a period of ten years.