Hungary’s foreign minister, Peter Szijjarto, announced the signing of the deal in a social media post on Thursday.
He said this is Hungary’s “longest-term LNG contract.”
Under the deal, Hungary will buy 4 bcm of gas over 10 years from 2028.
“Our energy supply is safe only if we can import from as many sources and routes as possible,” Szijjarto said.
“Diversification means adding new sources while keeping existing ones,” he added.
Before this deal, UK-based LNG giant Shell signed a natural gas supply deal with MVM CEEnergy.
This agreement is for two billion cubic meters of natural gas for ten years, starting from 2026.
In 2020, Shell signed a supply deal with Hungary to supply the nation with LNG via the Croatian Krk FSRU-based LNG import terminal.
Under the deal, Hungary buys 250 million cubic metres of gas equivalent per annum for a period of six years.
This was the first time for Hungary to enter a long-term deal with a Western energy company.
The country has previously only imported Russian pipeline gas under long-term deals with Gazprom and its export arm.
MVM CEEnergy Croatia is one of the largest users of the Croatian FSRU.
The firm imports natural gas through the Hungary-Croatia interconnector and the Slovenia-Croatia interconnector, ensuring diversification of the supply sources.
The 140,000-cbm FSRU LNG Croatia is currently at Türkiye’s Kuzey Star yard to receive an additional regasification module.
Following the upgrade, the Krk LNG facility will have a capacity of about 6.1 bcm per year.
