Alexei Miller, CEO of Gazprom, and Peter Siarto, Hungarian Foreign Minister and Minister for Foreign Economic Relations, signed a new agreement in Budapest to supply natural gas from Russia to Hungary by the end of 2036. RIA Novosti. Reports
The Russian company will sell 4.5 billion cubic meters of gas to Hungary over a 15-year period, of which 3.5 billion cubic meters will be transported through Serbia and another 1 billion through Austria. The agreement is set to take effect on October 1.
By 2020, Hungary imported 8.6 billion cubic meters of natural gas from Russia. This is the second largest number in 12 years.
It is noteworthy that the Ukrainian Foreign Ministry has already condemned the long-term gas supply agreements between Russia and Hungary, bypassing Ukraine.
A ministry spokesman said Ukraine was shocked and disappointed by Hungary’s decision.
“We consider this to be a particularly political, economically unjustified decision aimed at appeasing the Kremlin and damaging Ukraine’s national interests and relations between Hungary and Ukraine,” the Ukrainian Foreign Ministry noted. “
Ukrainian officials said it would be more profitable for Hungary to receive gas in transit through Ukraine’s gas transportation system, which “ensures the shortest route to uninterrupted gas supplies to European countries”.
Ukraine will also approach the European Commission with a request to review the new agreement, which, according to the Foreign Ministry, will have a significant impact on Ukraine and Europe’s energy security.