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Russia and Hungary agreed on gas supplies to bypass Ukraine

Gas pipelines in the Balkans (photo: Gazprom)

Budapest received guarantees from Gazprom for the continuation of gas supplies after 2019, despite the planned termination of the transit of this hydrocarbon to Europe through Ukraine. This was announced by Peter Siyarto, the Minister of Foreign Economic Relations and Foreign Affairs of Hungary.

"Today, the head of Gazprom and I have concluded an agreement on guarantees of natural gas supplies to Hungary, regardless of whether a transit agreement is concluded between Russia and Ukraine," the minister said in a statement published March 21 on the Hungarian Foreign Ministry website.

Gazprom previously reported that the company's chairman of the board, Alexey Miller, and the head of the Hungarian foreign affairs agency, Peter Siyarto, discussed current issues of cooperation. In the conversation, including, it was about the supply of Russian gas to Hungary since 2020, when the agreement on the transit of energy through Ukraine terminates.

In January, a trilateral meeting of Russia, Ukraine and the European Commission took place in Brussels, at which gas transit issues were discussed since 2020, but no specific agreements were reached.

This year the contract between Gazprom and Naftogaz for the transit of Russian gas to Europe expires. In Brussels, we are confident that the new contract should be signed for more than 10 years. At the same time, the volume of deliveries under this agreement should be "attractive for investors" who will be invited to modernize the Ukrainian gas transmission system.