There is no doubt that natural gas will remain an important energy source for Hungary in the long term. To diversify its supply, Hungary has signed a long-term agreement with Shell. It is the largest and most extended contract ever with a Western supplier.
The newly signed agreement provides for the purchase of 2 billion cubic meters of natural gas over a period of ten years, starting in 2026. This strengthens Hungary’s energy security by establishing a new source, a new contract, and a new route.
Shell is not a new partner for Hungary. Since 2021, there has been a long-term gas supply contract in place, which expires in 2027. However, that agreement only covers the purchase of 250 million cubic meters of LNG per year.
Shell has been present in Hungary for about 100 years and has proven to be a reliable partner over that time. The British-Dutch company currently operates around 200 fuel stations and 100 EV charging stations across the country.
Prior to this, Hungary’s most recent long-term gas agreement was signed with the Russian company Gazprom in 2021 for a 15-year period.