Hungary to sign a new LNG supply agreement with Shell

Hungary intends to sign a new LNG supply contract with Shell before the current agreement expires in 2027, Foreign Minister Peter Szijjarto said, Montel reports.

He also added that Hungary would like to extend the contract with an increase in supply volumes but did not provide any details.

In 2020, Hungary and Shell signed an agreement to supply 0.25 bcm of gas per year as LNG from 2021 to the end of 2026 through the Croatian LNG terminal Krk in the Adriatic Sea.

Last year, Hungary's gas consumption amounted to 8.5 bcm, which is 11% higher than in 2022, according to the country's Energy Ministry.