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Gazprom Deal Lets Hungary Delay Gas Payments of $1.9 Billion

  • Hungary to repay Gazprom in three tranches, person says
  • Prime Minister Orban’s cabinet didn’t disclose terms of deal

Hungary, one of the most reliant European countries on Russian energy, will get a deferral of about 1.9 billion euros ($1.9 billion) on gas payments to Gazprom PJSC during the heating season, according to a person with knowledge of the issue.

Hungary announced Monday that it had won a three-year reprieve from Gazprom on payments coming due in the six-month period, without disclosing the terms of the deal.