US EditionHungary Signs Deal to Buy US LNG, but Russia Will Stay Its Top Supplier - American Press
Hungary will import 400 million cubic meters of U.S. liquified natural gas annually under a five-year deal, while Russia remains the largest gas supplier.
- On Tuesday, MVM Group signed a five-year agreement with Chevron to buy U.S. liquified natural gas, marking the first time American gas will enter Hungary's energy mix.
- On Dec. 3, Hungary said it will launch a legal challenge to the European Union's plan to phase out Russian gas, despite pressure to diversify from its top supplier.
- Chevron is likely to source the LNG from Energy Transfer's Lake Charles export facility and shipments will transit via the Krk LNG terminal, Croatia to reach MVM Group.
- Russia supplied Hungary with a record 8.6 billion cubic meters in 2024 and similar volumes are expected for 2025, while Orbán secured assurances from Putin that TurkStream and Druzhba pipelines will continue deliveries.
- Foreign Minister Peter Szijjarto called the Chevron deal `an important milestone in American-Hungarian energy cooperation` and said combined non-Russian supplies reach approximately 1.4 billion cubic meters annually, expanding Hungary's options while seeking lower prices.
30 Articles
30 Articles
Lake Charles American Press
Hungary signs deal to buy US LNG, but Russia will stay its top supplier - American Press
By Alton Wallace | The Center Square Hungary’s state-owned MVM Group on Tuesday signed a five-year agreement with Chevron to purchase 400 million cubic meters of liquified natural gas annually, marking the first time American gas will be integrated into Hungary’s energy mix. Chevron is likely to provide LNG from supplies sourced at Energy Transfer’s Lake Charles export facility in Louisiana. Chevron has signed long-term agreements with Energy Tr…
Hungary and the United States have signed a five-year agreement on the supply of American liquefied natural gas (LNG).
Hungary Signs Gas Deal With Chevron
Hungary announced on Tuesday, December 16th a five-year gas supply contract with U.S. energy giant Chevron. This coincides with the country continuing to use Russian energy imports. For Hungary, it is essential to maintain strong diplomatic relations with the world’s major powers and the government continues to pursue this approach in its foreign policy. Russian energy imports help Hungary to retain the lowest household energy prices in Europe. …
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