Hungary is taking a step toward diversifying its energy supply with a new five-year deal to buy U.S. liquefied natural gas, though Russia remains its dominant gas supplier, The Center Square writes.
State-owned MVM Group has signed an agreement with Chevron to purchase 400 million cubic meters of LNG annually, marking the first time American gas will enter Hungary’s energy mix. The fuel is expected to be sourced from Energy Transfer’s Lake Charles export facility in Louisiana, with deliveries routed through Croatia’s Krk LNG terminal.
The deal comes as Hungary faces mounting pressure from the European Union to reduce reliance on Russian energy, even as it continues to receive record volumes of Russian gas and challenges an EU mandate to ban Russian imports by 2027. Combined with existing contracts with Shell, Engie and Azerbaijan’s SOCAR, the Chevron agreement boosts Hungary’s non-Russian gas supply, underscoring the country’s effort to balance energy security, price concerns and geopolitical realities.
