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Hungary Signs Deal Paving Way for Qatari Gas Purchases

Energy Trade

Péter Szijjártó

Photo by kormany.hu/Gergely Botár

Hungary has signed a political agreement clearing the way for the start of talks between energy group MVM and QatarEnergy on the purchase of Qatari gas, Minister of Foreign Affairs and Trade Péter Szijjártó said in Doha on Wednesday, according to a report by state news wire MTI.

Szijjártó said Qatar is the world's second-biggest exporter of LNG and is upgrading production and delivery capacities.

He added that Hungary could "realistically" start taking deliveries of Qatari gas within three years if Croatia scales up the capacity of its LNG terminal on the Adriatic coast.

Szijjártó said an investment protection agreement between Hungary and Qatar has been finalized.

He noted that bilateral trade between the two countries reached a record USD 60 million last year.

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