Hungary Blocks Plan to Store Ukrainian Fuel Reserves on Its Territory

Hungarian oil and gas company MOL and Ukraine's Naftogaz have signed a memorandum on building fuel storage facilities in Hungary to supply the Ukrainian market. However, Hungarian Prime Minister Péter Magyar sharply criticized the initiative, insisting that no such facilities will be built in the country.

According to the Hungarian news outlet nepszava.hu, the agreement between the two companies was signed last week at an economic forum held alongside the founding summit of the so-called Carpathian Eight in Ukraine. Besides Ukraine, the meeting brought together representatives from Hungary, Poland, Czechia, Slovakia, Romania, Austria and Serbia.

Why Ukraine Needs Storage Abroad

According to the outlet, the main goal of building storage facilities outside Ukraine is to keep them out of reach of Russian missile and drone strikes. Serhiy Fedorenko, acting head of state-owned Naftogaz, explained that diversifying supply routes and creating additional reserve capacity beyond the range of Russian attacks is essential for the stability of Ukraine's entire fuel market.

Naftogaz itself stresses that the signed document is not yet a final investment decision, but rather a framework for further study and development of storage infrastructure that would ultimately serve the Ukrainian market.

Hungarian PM's Sharp Reaction

Fidesz opposition MP Bence Rétvári claimed that such fuel storage facilities would pose a security threat to Hungary and create risks for residents of the country's eastern regions.

Prime Minister Péter Magyar (Tisza party) told parliament on Monday that MOL had negotiated with the Ukrainian side without government approval. "There will be no Ukrainian oil storage facility in Hungary," the head of government declared firmly. He called MOL's actions completely unacceptable and warned that there would be consequences.

Source: novinky.cz