Naftogaz Secures Storage and LNG Deals Amid Russia Energy Threat
Naftogaz Group has signed a memorandum with Hungarian energy company Mol to build oil products storage facilities in Hungary. The move aims to diversify Ukraine's supply routes and create additional storage capacity outside areas vulnerable to Russian attacks.
The agreement was made during the Carpathian 8 Summit, where Naftogaz also signed separate memoranda with Polish energy company Orlen for LNG shipments and oil product supplies worth over $500 million.
Naftogaz's acting head Serhii Fedorenko stated that diversifying supply routes is crucial in maintaining market stability amid ongoing Russian attacks on Ukraine's fuel infrastructure. The facilities will be built near the Ukrainian border, serving both Ukraine's needs and strengthening cross-border energy infrastructure.