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Hungary Promises LNG flows to Ukraine from Krk Gas Terminal

| 2021-08-30 < 1 min read

Hungary Promises LNG flows to Ukraine from Krk Gas Terminal

Reading Time: < 1 minute

Hungary has floated the idea of a tripartite agreement to supply Ukraine with natural gas flows through Hungary via liquefied natural gas (LNG) received at the terminal on the Croatian island of Krk. Following a meeting with his Croatian counterpart in Budapest, Hungary’s minister of Foreign Affairs and Trade, Péter Szijjártó, announced that he agreed with Gordan Grlic-Radman to deliver gas to Ukraine through pipeline infrastructure running through Hungary.

Through the establishment of the LNG terminal on the island of Krk, which began operations at the beginning of this year, Hungary acquired a new supply route, which makes long-term gas supply possible using non-Russian pipelines. Up to 1.4 billion cubic meters of natural gas is expected to originate from that direction in the next four years, according to Hungary’s foreign minister. Szijjártó also mentioned that the existing Russian-Ukrainian-Hungarian gas route could eventually be reversed, and Hungary could also supply Ukraine with gas from the Croatian LNG terminal. A tripartite Hungarian-Croatian-Ukrainian initiative could be launched so that Hungary can regain some of the transit fees it loses if Gazprom supplies natural gas through a southern route and not via Ukraine.

Source: Origo