Croatia

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

CET Editor

Recent Posts

CEE mulls ramifications of Trump’s victory on trade, defence, environment

As Donald Trump officially declared his victory in the US election, he received congratulations from…

3 days ago

‘Budapest Declaration’ signed as Orban hosts EU summit

European leaders committed to developing a defence industry base and enhancing EU competitiveness at an…

4 days ago

EU, South Korea expand security, defence links

The EU and the Republic of Korea formalised a comprehensive Security and Defence Partnership in…

4 days ago

PKN Orlen CEE’s top firm on Coface 500 list

Poland is the dominant country in the Central and Eastern Europe (CEE) business landscape, with…

4 days ago

To the victor go the spoils – the big winners and losers of Trump’s second presidency – CET op-ed

Hungarian Prime Minister Viktor Orban, no stranger to political brinkmanship, went all in on Donald…

1 week ago

Moldova pivots to EU in presidential vote

Moldovan President Maia Sandu defeated her pro-Russian rival Alexandr Stoianoglo by around 55% to 45% in the presidential second-round…

1 week ago