Hungary may raise purchases of Russian natural gas

BUDAPEST, Jun 22 (PRIME) -- Hungary may buy more Russian natural gas as it becomes cheaper, Foreign and Trade Minister Peter Szijjarto said in a news conference Wednesday following a meeting of an intergovernmental commission of the two countries.

On June 17, local news agency MTI reported citing Szijjarto that Russian gas giant Gazprom and Hungary have cut the gas price under their long-term gas supply contract.

“Last year, we received 6 billion (cubic meters), if we manage to keep the direction, our energy security will be guaranteed. All I can say to keep commercial secrets is that pricing for Hungary has changed in a very positive way, partially due to us signing an agreement to purchase 600 million cubic meters more in addition to capacities envisaged by the contract,” Szijjarto said.

“We have modified the long-term agreement. It could have expired las year, but we extended its terms. We signed an agreement for 25 billion cubic meters of gas.”

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