Budapest Discloses Talks With Cairo On LNG Supplies To Hungary From 2026

Budapest Discloses Talks With Cairo on LNG Supplies to Hungary From 2026

BUDAPEST (UrduPoint News / Sputnik - 01st March, 2023) Hungarian and Egyptian companies have begun negotiations on the supply of Egyptian liquefied natural gas (LNG) to Hungary from 2026, Hungarian Foreign Minister Peter Szijjarto said on Tuesday.

Egypt can contribute to the safety of gas supply to Hungary within three-four years, as gas from Egypt's LNG terminal can be carried to Europe due to the development of the Greek LNG infrastructure, Szijjarto said in a video address, posted on social media.

The foreign minister added that Hungary and Egypt had also signed strategic partnership agreements in the fields of atomic energy and higher education.

The Hungarian Foreign Ministry said that Budapest has been working to diversify gas supplies to the country, but it would still be impossible for the country to replace Russian energy resources in the short term.

In addition to increasing Azerbaijani gas imports, Hungary is interested in increasing LNG supplies to the country through the terminal in Croatia's Krk and developing a gas field in Romania. As part of its supply diversification efforts, Budapest is also considering the possibility of importing oil from Ecuador in the event the overland transit of Russian oil through Ukraine becomes impossible, Szijjarto added.

After the beginning of Russia's special military operation in Ukraine in February 2022 and the adoption of 10 packages of sanctions against Moscow by the European Union, the bloc has dramatically curbed its imports of Russian gas while looking for alternatives, following its pledge to end its dependence on energy supplies from Russia.