Hungarian Foreign Minister Peter Szijjarto has signed a 15-year gas supply agreement with Russian energy group Gazprom to take effect as soon as its existing deal expires in September, he said on Thursday.
Preliminary Agreement Concluded with Russia on Long-term Gas Delivery
Hungary and Russia have agreed to conclude a long-term agreement on the delivery of natural gas from Russia to Hungary, Foreign Minister Péter Szijjártó said on Thursday, after talks with Gazprom CEO Alexey Miller.
“We intend to enter into a 15-year contract, with flexible pricing,” Szijjártó said on the sidelines of the St Petersburg International Economic Forum.
The agreement would ensure long-term gas supply security, Szijjártó said, noting that the current deal expires at the end of September. Prices, however, are yet to be negotiated, he said.
Hungary gets agreement to delay Paks II loan repayment : New Nuclear world-nuclear-news.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from world-nuclear-news.org Daily Mail and Mail on Sunday newspapers.
30 April 2021
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Hungary will start repaying the Russian loan for the Paks II project in 2031, five years later than originally agreed, Hungary s Finance Ministry has announced. This amendment to the intergovernmental agreement for the EUR12.5 billion (USD15.1 billion) project means that income from the new nuclear power plant can help repay the loan, but it does not change the rate of interest on the loan nor the option to pay it off early, it added.
(Image: Paks II Ltd)
Russia and Hungary signed an inter-governmental agreement in early 2014 for Russian enterprises and their international sub-contractors to supply two VVER-1200 reactors at Paks, including a Russian state loan of up to EUR10 billion to finance 80% of the project, which is known as Paks II.
05 March 2021
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Hungary is now the sixth European country to bring forward its coal phaseout plan, announcing that it will shut its last remaining coal plant in 2025. Meanwhile Poland says its first nuclear power unit will be built in Gdansk and the second one probably at the site of its Belchatów coal plant.
Poland might build a nuclear unit at the Belchatów coal plant site (Image: Wikipedia)
Hungarian President János Áder announced the country’s original plan to exit coal by 2030 at the United Nations Climate Action Summit in New York in September 2019. He said Hungary would simultaneously increase its solar power capacity ten times and expand the capacity of its nuclear power plants. These efforts would mean that 90% of Hungary’s electricity production will be carbon-free within a decade, he said.