Hungary signs major energy and gas transit deal with Ukraine after years of tension
Hungary and Ukraine are restarting gas transit and electricity capacity-sharing under a wide-ranging energy framework deal signed in Budapest. Deutsche Welle reported the agreement includes a roadmap stretching to 2027. The EU described the move as "an important step for intra-bloc energy security".
Deutsche Welle said Hungary's Prime Minister Viktor Orbán and Ukraine's President Volodymyr Zelenskyy signed the energy framework agreement at the Sándor Palace in Budapest on Thursday. The agreement restarts gas flow at 4.5 billion cubic metres a year connected to the Slovak transit pipeline and includes 1.2 GW of electricity capacity sharing toward Ukraine from Hungary. Hungary's Foreign Minister Péter Szijjártó described it as "neighbourly pragmatism".
DW reported that Zelenskyy said at the press conference that "the value of Europe acting together has been confirmed". EU Energy Commissioner Dan Jørgensen called the agreement "an important step for intra-bloc energy security". The European Commission added that Slovakia was expected to apply a reduction in transit fees.
Hungary's stock exchange main index BUX rose 1.4 per cent, led by OTP Bank and MOL. On the European TTF Hub gas market, November futures closed steady at €28.30 per MWh. Hungary and Ukraine will reconvene a technical committee in Kyiv in mid-November for additional protocols. Not investment advice.
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