Hungary signs 15-year gas contract with Gazprom โ UPDATE
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Hungary has signed a 15-year gas purchase agreement with Gazprom which will ensure the countryโs long-term energy security, Pรฉter Szijjรกrtรณ, the minister of foreign affairs and trade, said on Monday.
Under the agreement, Hungary has pledged to buy 4.5 billion cubic meters of natural gas each year from the Russian energy giant over a period of at least ten years, Szijjรกrtรณ said at the signing ceremony on Monday. Hungary will have the opportunity to modify the amount purchased after ten years, he added.
Gazprom will deliver 3.5 billion cubic meters via the Serbian-Hungarian interconnector which is slated to start operation on Oct. 1, and the remaining one billion cubic meters via Austria, he added.
The price is significantly lower than what has been paid up to now based on an agreement signed in 1995, and will contribute to โmaintaining the achievements of the utility price cuts, and Hungarian consumers will continue to pay one of the lowest prices in the European Union,โ
Szijjรกrtรณ said.
Energy security has always been a key strategic and national security issue in central Europe, Szijjรกrtรณ said. Natural gas has a key role in this regard in Europe as well as in Hungary, he said.
The EU received 48 percent of its gas supply form Gazprom last year, he said.
โHungary sees energy supply as a matter of national security, sovereignty as well as an economic issue rather than a political issue. Family homes can be heated by gas and not by political statements; and the same goes for industry,โ he said.
It is a good thing. Look at what is happening to UK with this climate crazyness. They shutting down energy production.
Good move! It is important that there is no interruption in Gas supply. it is profitable for the Russian Company and ensures supply for Hungary. Ukrainian Government cannot be relied on. The Ukrainians still persecute Hungarians living in the Ukraine. It is better not to rely on the Ukraine. To this day, if the Ukrainian government cannot even look after its citizens. The Ukrainian government seems to be corrupt.
Is MVT is able to think for himself/herself. Absolutely everything the government does and says is agreed and fawned over by this person. Canโt understand how someone can go through life so utterly brainwashed by right wing media. It really is remarkable. Nothing to be ashamed of but maybe try and look at other sources of information to see things from another perspective.