Hungarian MVM signs contract with Chevron for LNG supply

Hungarian energy company MVM has signed a five-year contract with American Chevron for the purchase of 400 million cubic meters of liquefied natural gas (LNG). m per year. This was announced on December 16 by Hungarian Foreign Minister Peter Szijjarto.

"Today, we have reached an important milestone in the U.S.-Hungarian energy cooperation by signing a contract for 400 million cubic meters of LNG per year. This means that 2 billion cubic meters of American LNG will arrive in Hungary," he wrote on the social network X (ex. Twitter).

The Minister stressed that Hungary is interested in buying energy resources from as many sellers as possible and on as many routes as possible, if the lowest prices are provided.

To spite the conductor: The EU Council banned purchases of Russian gas from January 1, 2028

What does this decision mean for the European economy

On December 15, Estonian President Alar Karis offered to pay Hungary for abandoning Russian gas. According to the Estonian leader, Hungarian Prime Minister Viktor Orban, during his visit to Russia in late November, hoped to provide Hungary with cheap energy for the future. At the same time, a number of energy agreements between Budapest and Moscow may be valid until the 2040s.

Hungarian Foreign Minister Peter Szijjarto said on December 9 that it was impossible to ensure the country's safe energy supply without Russian supplies. He added that oil and gas continue to flow to Hungary uninterrupted, but the country has to protect energy channels from external pressure.

Prior to that, Szijjarto said that Hungary would not agree with the dictate of Brussels, which wants to ban oil and gas supplies from Russia. He stressed that the ban on Russian energy resources is a political, ideological decision that has no relation to reality, and promised to protect Hungary, the Hungarian economy and families from it.

All important news is on the Izvestia channel in the MAX messenger.