Hungary and Qatar have reached an agreement paving the way for talks on future gas purchases between state-owned energy company MVM and QatarEnergy, the minister of foreign affairs and trade said in Doha.
The aim is for Hungary to be able to take into account deliveries of Qatari liquefied natural gas (LNG) when it comes to guaranteeing the country’s gas supply, Péter Szijjártó said after talks with Qatar’s energy and foreign ministers, according to a foreign ministry statement. Urging the inclusion of more energy sources, Szijjártó noted that Qatar has the world’s third largest gas reserves and is the second biggest LNG exporter. Qatar is also developing its extraction and delivery capacities, he added. Concerning Wednesday’s agreement, Szijjártó also highlighted the role of the European Union, saying infrastructure developments will be needed in order to bring large volumes of natural gas to Hungary via the southern and south-eastern European LNG terminals. If Croatia expands the capacity of its LNG terminal as it has promised, there will be a realistic possibility for Hungary to receive gas from Qatar within about three years, he said. Hungary and Qatar also finalised an investment protection agreement, which could be key in attracting Qatari investments to Hungary, he added.