Ukraine signs memorandum on gas storage in Hungary – Naftogaz

The Naftogaz Group has signed a memorandum with the Budapest-based oil and gas company MOL Group regarding the construction of facilities to store petroleum products for Ukraine's needs in Hungary near the Ukrainian-Hungarian border.

Source: acting Naftogaz CEO Serhii Fedorenko on Facebook

Details: Fedorenko said the agreement was reached at the Carpathian Economic Forum as part of the Carpathian Eight Summit.

Quote: "Amid relentless Russian attacks on our fuel infrastructure, diversifying supply routes and building additional storage capacities outside the area of attacks is a matter of market-wide stability.

This will potentially not only increase the reliability of fuel supplies for Ukrainian consumers, but also contribute to the mutually beneficial development of cross-border energy infrastructure between Ukraine and Hungary."

Background: More than 50 investment and trade projects worth a total of over €1 billion have been developed during the Carpathian Economic Forum.

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