Hungary could receive Qatari natural gas in 3 years

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.

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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.

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Source: 24.hu