Hungary, Qatar to Cooperate on Energy Front

Hungary is eyeing Qatar as its key partner to meet its strategic target to make it energy secure, The Peninsula has reported.

A high-level delegation, led by Peter Szijjarto, State Secretary of the Hungarian Prime Minister’s Office, signed a memorandum of understanding (MoU)  with Qatar on energy cooperation.

Szijjarto said that the needs to stop depending on a single-country source developing multiple sources. Being top LNG exporter and third biggest gas resource, we believe Qatar can be one of our major partners to help meet our target, the newspaper quoted him as saying.

“The proposed Croatian LNG terminal can play a key role in Hungary-Qatar partnership. We understand negotiations were going on with Qatari partners and Croatian partners,” he said.

In November last year, Bloomberg had reported that Croatia is seeking financial help from the Qatar Investment Authority and Macquarie Group Ltd to build a liquefied natural-gas terminal after securing a supply accord with Qatargas. 

The terminal with annual capacity of 5 bcm is expected to cost $923 million. Croatia aims to complete the project by 2016.