Hungary and Russia agree on continuing gas supply after 2020

Budapest and Moscow agreed on terms for gas supply after 2020, the year after the current contract expires, as stated on Tuesday, September 18th by the Hungarian Prime Minister Viktor Orban at a press conference after the meeting Russian President Vladimir Putin. Putin noted that Moscow now covers 60 percent of Hungary’s need for gas.

However, he did not rule out that after the construction of the “Turkish stream” gas pipeline along the bottom of the Black Sea, one of its land lines can go through the Hungarian territory.

They also touched upon politics and the question of bilateral trade. Viktor Orban noted, that after the relations slowed down due to EU sanctions, the negative outlook has been changed.

The President of Russia, in turn, expressed the opinion that Budapest is one of Russia’s most key partners in Europe. Last year there was an increase of 25 percent in trade, the first half of this year another 30 percent, Putin stressed.

According to the results of January-July 2018, the volume of trade between Russia and Hungary amounted to $3.86 billion dollars.

  Russia, Hungary, Putin, EU, Orban