Hungary Agree LNG Supply With Qatar

Hungary has reached an agreement to purchase LNG from Qatar according to Hungarian Prime Minister Viktor Orban on Tuesday during an official visit to Doha.

• "It's always better to stand on multiple legs than only on one leg," said Orban.
• In December, Foreign Minister Peter Szijjarto said Energy group MVM was in talks with QatarEnergy about the possibility of supplying Hungary with LNG within three years as they look for new sources into its gas supply.
• European Union member Hungary largely relies on Russian gas and oil, and surging energy costs have contributed to a ballooning budget deficit this year.
• Qatar is already among the world's top LNG exporters and is on track to increase LNG capacity to 127mtpa from the North Field Expansion projects. QatarEnergy may complete supply contracts for new LNG by year-end according to Qatar’s Energy Minister earlier this week.