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Hungary, Russia sign gas deal

Energy Trade

Hungary’s Prime Minister Viktor Orbán and Russia’s President Vladimir Putin agreed during a meeting held in Budapest yesterday that Hungary would consume gas deliveries it has not yet requested, by this year’s expiry of the gas contract between the two countries, and delivery of the unused portion would be rescheduled by Gazprom.

Orbán said that Hungary will pay for the gas only when it is “requisitioned”. Now that political decisions on the gas agreement have been made, “only technical issues remain”, he added.

Putin said that “Gazprom has no objections against increasing the volume of gas as well as the capacity of the storage facilities”.

Hungary’s Prime Minister said that Hungary is looking to cooperate with Russia on the construction and operation of alternative solutions that would replace the previously scrapped South Stream project. "It is still in our best interest to see gas delivered from the south to Hungary," he said. An investment that brings gas through Turkey, Greece, Macedonia and Serbia to Hungary, then to Western Europe would be a good solution, he added.

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