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Hungary, Cyprus Sign Bilateral Energy Deal On Gas Supply

Hungary, Cyprus Sign Bilateral Energy Deal On Gas Supply

Hungary and Cyprus have signed a bilateral natural gas agreement in connection with supply from Cyprus’s offshore Aphrodite gas field, Foreign Minister Péter Szijjártó said. Szijjártó said that Hungary regarded the gas from Cyprus as a realistic alternative with a view to boosting its energy security and diversifying gas supplies. Speaking at the inauguration of a Hungarian consulate in Nicosia, he noted that
Hungary is almost totally reliant on Russian gas supplies. The agreement with Cyprus sets the stage for Cyprus gas to enter the market in south-eastern and central Europe, he said.

The countries will also look into the uses of advanced Hungarian water management technologies in improving Cyprus’s water supply, Szijjártó said. With falling rates and the uneven distribution of annual rain, water supply is becoming an increasing problem in Cyprus, he said.