Hungary signs long-term LNG contract to advance energy diversification: FM

BUDAPEST, Dec. 16 (Xinhua) -- Hungary has signed a long-term liquefied natural gas (LNG) supply agreement with a U.S. energy company to advance energy diversification, Minister of Foreign Affairs and Trade Peter Szijjarto said on Tuesday in Budapest.

On Tuesday, state-owned energy group MVM signed a five-year LNG supply agreement with U.S. energy company Chevron, under which 400 million cubic meters of LNG will be delivered annually to Hungary over the contract period.

Szijjarto said at a press conference that the agreement represents an important milestone in Hungary's diversification efforts, aimed at securing energy supplies from multiple sources and routes to enhance supply security and support stable pricing.

He also said Hungary plans to extend the operational lifetime of the Paks nuclear power plant and construct two new large reactor units. He confirmed that Hungary has signed agreements with U.S.-based Westinghouse to introduce American nuclear fuel into the Hungarian energy system from 2028 to 2029.

Nuclear power will continue to play a central role in ensuring a stable electricity supply and long-term energy security, he noted.

According to Hungarian officials, diversification efforts are aimed at complementing, rather than abruptly replacing, existing supply sources. ■