• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Hungary could receive Qatari natural gas in 3 yearsHungary could receive Qatari natural gas in 3 yearsHungary could receive Qatari natural gas in 3 yearsHungary could receive Qatari natural gas in 3 years
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Sipos György Sipos György · 15/12/2022
· Business

Hungary could receive Qatari natural gas in 3 years

economy Hungary natural gas

In the desperate quest for alternatives to replace Russian natural gas supplies, Hungary found itself negotiating with Qatar. Recently, an agreement has been born through which Hungary will be able to import natural gas from Qatar. If everything goes according to plan, the Croatian ports will be upgraded and in just three years, Hungary could receive LNG.

Péter Szijjártó announced that the agreement had been made on Wednesday in Doha — reports 24.hu. MVM will buy natural gas from QatarEnergy as soon as possible. The Minister of Foreign Affairs emphasised that Europe was battling a severe energy crisis. The continent needs to import as much natural gas from as many places as it can to secure a stable supply of the European markets.

Why Qatar?

Qatar is a leading exporter of natural gas. It has the third-largest reserve in the world. In terms of LNG exports, the country is in second place on the leaderboard. It is also beneficial that the Middle-Eastern country realised the situation and it started investing heavily in its infrastructure. Soon, Qatar will be able to both extract and transport even more natural gas.

The minister stressed the European Union’s responsibility to help with the development of new infrastructure. Southern and southeastern ports need a larger capacity to accommodate the larger influx of Qatari natural gas. A lot depends on Croatia now, as Hungary is already the number one user of their ports. If they keep their promises, then Hungary could start importing Qatari natural gas.

  • Read also: African natural gas could end the dependence on Russia for Hungary

Qatar is currently a major player on the world stage and Hungary nurtures a good relationship with the country. During the announcement, Szijjártó said that there was no political obstacle hindering any stage of the upcoming development.

The growing influence of Qatar

Qatar is becoming a major investor in Hungary. Last year, a new record was broken and the bilateral trade reached 60 million dollars. There is a direct connection between Doha and Budapest which is available almost every day of the week. Therefore, this connection helps a lot to revitalise the struggling tourism sector. Szijjártó also encourages other European countries to build stronger ties with the countries of the Persian Gulf. He emphasised that the basis of this relation should be mutual respect.

The minister added, that the two countries were on the same page regarding the war in Ukraine. They both condemn the war and want peace, promptly.

AirConnect airline Romania Hungary
Read alsoAnother airline seems to leave Budapest

Source: 24.hu

economy Hungary natural gas
Share
Sipos György
Sipos György

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • Ukrainian mayor to Viktor Orbán: “We’ll get you, you bastards!”
  • Budapest Mayor: artificial intelligence is smarter than the Hungarian government
  • Important: Wizz Air cancels all flights to this city
  • Hungary is the envy of the Germans: beer is much cheaper in Hungary
  • Russians represent Hungary at the European Figure Skating Championships
  • The Times named two Hungarian cities among the best for mini vacations!
  • Battery plant construction protested against in Hungary
  • Hungary’s economy will soar next year, says finance minister

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V