Shell agrees the 10 -year gas supply agreement with MVM Hungary …

The major of oil and gas (Shell) has signed a 10 -year natural gas agreement with Mvm Cenergy Hungary Tuesday, in a move designed to strengthen its presence in central and eastern Europe.

Shell, the largest liquefied natural gas trader in the world (GNL), said he would have sold about 200 million cubic meters (MCM) of natural gas per year to the Hungarian wholesaler Mvm Cenenergy, starting from January 2026.

MVM Group receives a large amount of gas from Russia, unlike energy suppliers in most European countries following the invasion of Russia in Ukraine.

The Foreign Minister of Hungary Peter Szijjaria said on Tuesday previously that the agreement would be the “largest volume of the country and the longest western supply contract ever.

A six -year purchase contract with Shell was concluded in 2020 for 250 mcm of liquefied natural gas per year, between 2021 and 2027. It was the first long -term Gnl agreement of Hungary with a western energy company.

The GNL arrives via Croatia’s Port Krk, where it is penalty and then delivered to Hungary through the Hungary-Croatia gas pipeline.
Hungary consumes about 8 billion cubic meters of gas per year. It is still the largest buyer of Russian gas in the European Union.

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Szijjarto said that cooperation with Shell is working well, but would still buy Gazprom gases of Russia.

“With this, we will be able to live without Russian gas? No, due to geographical and infrastructure conditions. Not until we have adequate development of infrastructure in the region,” he said.

At the beginning of this year, Slovakia and Hungary rejected the plans of the European Commission to gradually eliminate Russian gases and other energy imports, deepening a crack with Brussels for their relations with Moscow.

Hungary, who received Russian gas from the South through Bulgaria and Serbia through the turban tube, increased its purchases from Gazprom last year.

Szijjarto declared at the beginning of this month that Hungary had imported about 5 billion cubic meters of gas through the Turkstream pipe through Serbia by the end of August, which meant that the gase imports this year through Turkstream could reach a record.

Hungary, who sends gas to Slovakia through an interconnector, also acquires gases from Romania and smaller volumes through the HAG gas pipeline that runs from Austria to Hungary.

[REUTERS]

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