Hungary Signs 10-Year Shell Gas Deal as EU Prepares to Quit Russia Flows

Hungary clinched a 10-year gas supply agreement with Shell Plc, marking one of its first steps to diversify away from Russian flows as a European Union deadline to phase out those imports nears.

On Tuesday, the country signed a deal for 2 billion cubic meters to be delivered over the course of a decade starting in 2026, foreign minister Peter Szijjarto said in an interview on the sidelines of the Gastech conference in Milan. The supplies will be delivered to Hungary via Czech and German pipelines, he added.