On Thursday, Hungary signed the largest deal in its history to purchase liquefied natural gas from the French company Engie, writes Reuters. This is the second agreement in recent months that will allow diversifying gas supplies and reducing dependence on Russia, which is the largest supplier of energy resources.
The Hungarian wholesale natural gas trader MVM CEEnergy agreed to purchase 400 million cubic meters of gas per year from Engie from 2028 to 2038. The agreement complements a contract concluded last month with Shell, under which Hungary will purchase 200 million cubic meters of gas per year from January 2026 — about 2.5% of demand.
Foreign Minister Peter Szijjarto stated at the signing ceremony with Engie that this is the longest contract in Hungary's history for the supply of liquefied natural gas and it will become the "pillar of the country's energy security".
Last month, US President Donald Trump stated that he would urge Hungary to stop purchasing Russian oil as part of pressure on NATO allies to reduce energy ties with Moscow due to its war against Ukraine. Hungarian Prime Minister Viktor Orban then responded that abandoning Russian energy resources would be a "catastrophe" for the Hungarian economy.