Hungary and Russia have reached an agreement on the supply of Russian gas for 15 years. Budapest will receive 4.5 billion cubic meters annually

Hungary and Russia have reached a new long-term agreement on the supply of Russian gas, which will enter into force on October 1, 2021. About it reported Hungarian Foreign Minister Peter Siyarto.

“The new agreement with Gazprom is designed for 15 years with the possibility of changing the volume of gas purchases in 10 years. Gazprom will annually supply 4.5 billion cubic meters of natural gas to Hungary, ”Siyarto said.

According to him, 3.5 billion cubic meters will be supplied through Serbia, and 1 billion through Austria.

Siyjarto also indicated that thanks to the new deal, Hungary will buy gas “at a much better price than under a contract that is about to expire.”

In early June, the Hungarian Foreign Minister announced that Budapest would start purchasing gas through Serbia by the end of the year. Earlier, the Hungarian authorities and Gazprom reached a preliminary agreement on gas supplies for a period of 15 years. Last June, Budapest agreed with Gazprom on the supply of 4.2 billion cubic meters of gas from October 2020 to October 2021.