Ukraine signs memorandum on gas storage in Hungary – Naftogaz

Naftogaz Group has signed a memorandum with the oil and gas company, headquartered in Budapest, Hungary – MOL Group – regarding the construction of facilities for storing petroleum products for Ukraine's needs on the territory of Hungary near the Ukrainian-Hungarian border.

Source: Serhii Fedorenko, acting chairman of the Board of Naftogaz NJSC, on Facebook

Details: According to Fedorenko, this agreement was reached at the Carpathian Economic Forum as part of the C8 Summit.

Quote: "In the conditions of constant Russian attacks on our fuel infrastructure, diversifying supply routes and creating additional storage capacities outside the shelling zone is a matter of market-wide stability.

This will potentially not only increase the reliability of fuel supplies for Ukrainian consumers, but also contribute to the mutually beneficial development of cross-border energy infrastructure between Ukraine and Hungary."

Background: More than 50 investment and trade projects worth a total of over €1 billion have been developed during the Carpathian Economic Forum.

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Originally reported by Ukrainska Pravda by Volodymyr Tunik-Fryz. Read the full story at the source.