Hungary has signed the longest-term liquefied natural gas (LNG) purchase agreement in its history with French energy company ENGIE, Minister of Foreign Affairs and Trade Péter Szijjártó said. The Daily News Hungary quoted him as saying on Thursday, October 2.

Szijjártó called the deal “a key pillar of the country’s future energy security.” Under the deal, Hungary will buy 400 million cubic meters of LNG annually from 2028 to 2038, totaling 4 billion cubic meters over the contract period.

“This is an important milestone for Hungary, as our network of reliable partners has expanded again. We are pleased that ENGIE will now be among the guarantors of Hungary’s energy security, and we are naturally ready to further expand this partnership, which is already based on many years of cooperation,” Szijjártó said.

According to him, Hungary depends on its neighbors, which is why it has invested hundreds of millions of euros, thanks to which the natural gas transportation network is connected to six of the seven neighboring countries.

Szijjártó noted that the Hungarian government understands diversification as purchasing energy from as many sources and along as many routes as possible, rather than replacing existing, well-functioning ones.

As Ukrainian News Agency earlier reported, on September 24, Hungary rejected US President Donald Trump’s request to stop buying russian oil.

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