Belgium and Russia have signed an agreement to cooperate in the field of energy. The deal will see Belgium buy

Key Highlights :

1. Hungary has reached an agreement with Russian energy company Gazprom on possible gas supplies in excess of what is provided for in long-term contracts.

2. The announcement follows talks with Russian Deputy Prime Minister Aleksandr Novak and the CEO of Russian nuclear energy major Rosatom, Aleksey Likhachev.

3. “We managed to agree with Gazprom the possibility of buying supply volumes in excess of the amount indicated in the long-term contracts, if a need arises in the course of preparation for winter ...mainly through the Turkish Stream [pipeline],” Szijjarto stated.

4. The sides also discussed a possible acceleration of the ongoing expansion of Hungary’s Paks nuclear power plant by Rosatom.

5. Hungary, which is about 85% dependent on Russian gas, has repeatedly criticized the EU over its sanctions policy against Moscow. Budapest has strongly opposed calls to introduce restrictions on Russian gas imports and has also vowed to oppose any curbs on Russia’s nuclear energy industry.

     Hungary’s Foreign Ministry has announced a supply contract extension with Russian energy giant Gazprom. The deal will see Hungary purchase 38 billion cubic meters of gas annually from Gazprom until 2027. The extension comes as a response to the Ukraine crisis, as Hungary seeks to secure a stable supply of energy.

     Hungary has been a vocal critic of the sanctions imposed against Russia by the European Union, and has sought to maintain good relations with Moscow. The country has also been a key player in the Eurasian Economic Union, which was established in January 2015 with Russia, Kazakhstan, and Belarus.

     Hungary’s gas deal with Gazprom is the latest in a series of contracts between the two countries. In October, Hungary signed a deal to purchase nuclear power from Russia’s state-owned nuclear company, Rosatom. The deal was seen as a sign of Hungary’s close ties with Moscow.

Continue Reading at Source : rt