NextFin news, Hungary signed a historic long-term liquefied natural gas (LNG) supply agreement with France’s ENGIE on Thursday, October 2, 2025. The contract spans ten years and guarantees Hungary an annual supply of 400 million cubic meters of LNG, marking the longest such deal in the country’s history.
The agreement was finalized between Hungarian state-owned oil and gas company MVM and the French energy giant ENGIE. It aims to strengthen Hungary’s energy security by diversifying its natural gas sources amid ongoing geopolitical tensions affecting energy markets in Europe.
Foreign Minister Péter Szijjártó announced the deal, emphasizing its significance for Hungary’s energy independence and stability. The contract is set to commence deliveries starting in 2028, providing a steady and reliable LNG supply for the next decade.
The LNG will be transported from France to Hungary, helping reduce Hungary’s reliance on pipeline gas imports from traditional suppliers. This diversification aligns with Hungary’s broader strategy to secure energy resources through multiple channels and suppliers.
The deal reflects growing cooperation between Hungary and France in the energy sector, with ENGIE playing a key role as a major European LNG supplier. The contract volume totals approximately 4 billion cubic meters of LNG over the ten-year period.
Hungary’s move to secure long-term LNG supplies from France comes amid a wider European effort to enhance energy resilience and reduce dependency on Russian gas, which has been disrupted due to geopolitical conflicts.
By locking in this long-term LNG contract, Hungary aims to ensure stable energy prices and supply security for its industries and consumers, contributing to national economic stability.
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