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HomeLNGHungary to sign long-term LNG deal with Qatar

Hungary to sign long-term LNG deal with Qatar

Hungary reached a political agreement to purchase liquefied natural gas (LNG) from Qatar, under a long-term contract for the period after 2026, announced Hungarian Minister for Foreign Affairs and Trade, Péter Szijjártó in Doha.

After talks with his Qatari counterpart and the ministers of energy and finance, Péter Szijjártó said that they have reached a political agreement to sign a long-term contract for LNG deliveries post-2026. He emphasised the importance of diversifying energy supplies in the country, with the goal of not displacing existing suppliers.

The politician underlined that Qatar will significantly increase its LNG exports from 2026 and that inter-company negotiations between MVM and QatarEnergy on the supply of LNG to Hungary have begun, following the previous political agreement.

The Hungarian minister noted that both parties are interested in a long-term contract. Regarding potential transit routes, the minister pointed out that there are multiple options, the Qatari LNG can arrive either through the terminals in Turkey, Greece, or Poland. However, he highlighted that the southeast European route would require the swift implementation of ongoing capacity expansion projects.

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