Hungary set to purchase 2 bcm of liquefied natural gas from US

LONDON

Hungary has signed a deal to import a total of 2 billion cubic meters or liquefied natural gas (LNG) from the US over the next five years, the foreign minister said Tuesday.

"Today we have reached an important milestone in American-Hungarian energy cooperation by signing a contract for 400 million cubic metres of LNG a year," Peter Szijjarto wrote on US social media company X.

In total, 2 billion cubic meters of LNG will arrive in Hungary over the next five years after Hungarian state-owned energy company MVM has signed the agreement with US firm Chevron.

"We are interested in purchasing energy from as many sources and via as many routes as possible, ensuring the lowest prices," Szijjarto added.

Citing the country's energy security, Hungary has repeatedly expressed its opposition to halting purchases of Russian oil.