Hungary’s prime minister opposes plan to build oil storage facility for Ukraine on Hungarian soil

Source: Nepszava

Hungarian Prime Minister Péter Magyar called plans to build an oil storage facility for Ukraine on Hungarian territory a threat. Ukraine’s Naftogaz and Hungary’s MOL signed a memorandum on the project in September.

Speaking in parliament on September 21, Magyar said the project would not move forward while his party, the Tisza Party, remains in power. He said he had notified MOL’s leadership of his position, noting that the state owns a 25% stake in the company.

Naftogaz CEO Serhiy Fedorenko announced the signing of the memorandum with MOL on September 20, saying it was signed as part of the Carpathian Economic Forum. The memorandum calls for building a storage facility for Ukraine’s needs near the Hungarian-Ukrainian border.

“Amid constant Russian attacks on our fuel infrastructure, diversifying supply routes and creating additional storage capacity outside the strike zone is a matter of stability for the entire market,” Fedorenko wrote on Facebook.

Hungarian authorities said the government did not authorize MOL to negotiate the storage facility’s construction. MOL, for its part, stressed that the agreement is only preliminary and that preparing the project will take years.

MOL also said it stores oil in Hungary for the benefit of other EU countries, as well as countries outside the bloc.

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Hungary’s prime minister opposes plan to build oil storage facility for Ukraine on Hungarian soil

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Hungary’s prime minister opposes plan to build oil storage facility for Ukraine on Hungarian soil

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