Hungary has Agreed with Russia the Terms of a New Gas Supply Contract
OREANDA-NEWS. Hungary has agreed with Gazprom the terms of a new long-term agreement on the supply of Russian gas, which will enter into force on October 1. Hungarian Foreign Minister Peter Szijjarto announced this on Monday, August 30, on his Facebook page following talks in St. Petersburg with the head of the company Alexey Miller.
According to him, the agreement, which is planned to be signed by the end of September, assumes that Gazprom will supply 4.5 billion cubic meters of natural gas to Hungary per year via two routes: 3.5 billion cubic meters through Serbia and 1 billion cubic meters through Austria. The new contract with the Russian gas monopoly is designed for 15 years with the possibility of changing the purchased volumes in 10 years.
Without giving exact details, Szijjarto called it's price «much more favorable» than the current one. At the moment, Hungary receives Russian gas under an agreement signed in 1995, it's validity period expires soon.
According to Gazprom, during the meeting between Miller and Szijjarto, «the parties discussed key issues and prospects for cooperation in the gas sector, including gas supplies to Hungary», they also discussed «the work of the Hungarian side to expand the national gas transportation system».
Peter Szijjarto pointed out that most of the supplies under the new contract will be carried out through a new connecting gas pipeline passing through Serbia, which will be put into operation by October.