Gazprom Export and MVM CEEnergy Ltd. today signed in Budapest two long-term contracts for supplies of Russian gas to Hungary.
The documents were signed in the presence of Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, and Elena Burmistrova, Deputy Chairman of the Gazprom Management Committee, Director General of Gazprom Export.
Both contracts, which in total envisage supplies of up to 4.5 billion cubic meters of gas per year, will be effective for 15 years.
Key data points: The growth forecast = 6.6% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities and forecasts in smart oilfield market to 2031 by component (hardware, software, and services), technology (internet of things, artificial intelligence & machine learning, cloud computing, data analytics, and automation & remote monitoring), application (upstream activities, midstream activities, and downstream activities), end use (independent oil & gas operators, national oil companies, international oil companies, service companies, government & regulatory bodies, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pages“The long-term contracts that were signed today serve as a guarantee of reliable and stable supplies of Russian gas over the next 15 years.
An important component of the new arrangements is the diversification of supply routes. As early as from October 1, Hungary will start receiving Gazprom's gas via TurkStream and the gas pipelines of southeastern Europe. This was made possible to a large extent through the efforts of Bulgarian, Serbian and Hungarian companies in charge of developing the national gas transmission systems,” said Alexey Miller, Chairman of the Gazprom Management Committee, in connection with the signing of these contracts.
