Hungary’s Minister for External Economy and Foreign Affairs Peter Szijjarto announced on Friday that the country could begin receiving shipments of liquefied natural gas from Qatar, the largest LNG exporter worldwide, in 2027.
“We have reached a political agreement, which is now followed by talks between energy companies Qatargas and Hungary’s MVM to determine the quantity, pace and shipment route of the supplied gas to Hungary from 2027,” the Foreign Minister was quoted as saying by Reuters.
According to Szijjarto, Qatar has no spare export capacity until 2027.
Russia’s incursion into Ukraine triggered a sizable increase in demand for liquefied natural gas.
As a result, Qatar and the United States began playing much more important roles in the European gas supply, as landlocked nations sought energy sources diversification.
Hungary still receives a large part of its oil and gas from Russia.
At present, the country is supplied with 4.5 billion cubic meters of gas annually through Bulgaria and Serbia under a 15-year deal with Russia.
In 2020, Hungary also signed a 6-year purchase contract with Shell for the supply of 250 million cubic meters of LNG per year.
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