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Hungary reaches deal with Russia on gas deliveries

Energy Trade

Hungary has reached a political agreement with Russia on the continuation of gas deliveries after its long-term contract expires in October, Minister of Foreign Affairs and Trade Péter Szijjártó said in Moscow on Friday, according to a report by state news wire MTI.

The agreement was reached with Russian Deputy Prime Minister Alexander Novak, Szijjártó said. Gazprom and the Hungarian companies affected by the deal must negotiate the technical details, volume, and price, he added.

The long-term gas contract has been in place for 26 years.

Szijjártó confirmed that a 15 km interconnector between the gas networks of Hungary and Serbia would be completed by October, allowing the delivery of 6 billion cubic meters of gas annually from the south.

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