Hungary's state-owned energy company MVM has signed a five-year agreement to buy 2 billion cubic meters of liquid natural gas (LNG) from Chevron. The deal was announced in Budapest on Tuesday.
Chevron would deliver an annual 400 million cubic meters of LNG to MVM under the contract and thus, the United States LNG would become part of Hungary's energy mix for the first time, according to a statement by the Ministry of Foreign Affairs and Trade.
Meanwhile, American-Hungarian cooperation in the area of nuclear energy is being stepped up as a contract with Westinghouse on the delivery of nuclear fuel for the Paks nuclear power plant in Hungary and an agreement on adopting US technology for the construction of small modular reactors is also signed.
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