Russia and Hungary signed a new gas contract

Vladimir Putin and Hungarian Prime Minister Viktor Orban in Budapest reached an agreement on the terms of a new contract for the supply of gas to this Central European country. The new contract replaces the current agreement signed in 1996, which expires this year.

Orban said that the agreement reached on the basis of good relations between both sides will allow Hungary to consume unused gas in the following years, for which it has to pay only after receiving, which is a "big relief" for Hungary.

In accordance with the terms of the 1996 agreement, Hungary is obliged to pay for a certain amount of gas without using it. The Hungarian side asked to abolish the so-called take-or-pay principle, which is a common practice for Gazprom and the norm in the energy industry. During the negotiations, this issue was resolved. Another issue related to the expansion of the use of underground storage and Gazprom, in principle, is not opposed to storing large volumes of gas.

Agreements were also reached in other areas, including health and education, and a memorandum of cooperation was signed on training personnel in nuclear energy and related fields.

During his visit, Vladimir Putin laid a wreath at the Tomb of the Unknown Soldier in Heroes' Square and at the memorial to Soviet soldiers in Kerepesi National Pantheon in Budapest. He said that he was very grateful to the Hungarian government and the Prime Minister for the invitation to visit Budapest on the 70th anniversary of the liberation of the city from the Nazi invaders.