Hungary agreed with Gazprom to defer payments for 1.9 billion euros - Bloomberg

Hungary agreed with Gazprom to defer payments for 1.9 billion euros - Bloomberg

Hungary received a deferment from Gazprom for payments in the amount of about 1.9 billion euros, which it must transfer during this year's heating season.

 

 This was reported by the Bloomberg agency with reference to sources familiar with the matter.

 

 Hungary announced on Monday that it had received a three-year deferment from Gazprom on payments due in a six-month period. However, Budapest did not disclose the terms of the deal.

 

 Agency sources shed light on Hungary's agreements with Gazprom.

 

 Hungary will pay 20 percent of the deferred payment in the first year, and then 40 percent in the next two years, two sources said. According to the interlocutors, the deferred payment will be made at 3.5%.

 

 The agency writes that in the winter period of 2022/23, without taking into account the postponement, Budapest will probably have to pay 4 billion euros for Russian gas.

 

 Officials in Budapest said there is no cap on the deferred payment and it could increase as market prices for natural gas rise.

 

 Hungary forecasts that the value of the country's oil and gas imports will jump to $19 billion this year, up from $4 billion in 2019.

 

 Rising energy prices are raising concerns about the state of Hungary's economy at a time when billions of euros allocated by the EU remain blocked due to the bloc's fears of corruption.

 

 As a reminder, starting from September 1, Gazprom supplies 5.8 million cubic meters of natural gas per day to Hungary via Serbia, more than provided for in the long-term contract for 2021.

 

 Recently, Prime Minister Viktor Orbán's party proposed conducting a poll in Hungary regarding support for sanctions against the Russian Federation.



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Hungary received a deferment from Gazprom for payments in the amount of about 1.9 billion euros, which it must transfer during this year's heating season.

 

 This was reported by the Bloomberg agency with reference to sources familiar with the matter.

 

 Hungary announced on Monday that it had received a three-year deferment from Gazprom on payments due in a six-month period. However, Budapest did not disclose the terms of the deal.

 

 Agency sources shed light on Hungary's agreements with Gazprom.

 

 Hungary will pay 20 percent of the deferred payment in the first year, and then 40 percent in the next two years, two sources said. According to the interlocutors, the deferred payment will be made at 3.5%.

 

 The agency writes that in the winter period of 2022/23, without taking into account the postponement, Budapest will probably have to pay 4 billion euros for Russian gas.

 

 Officials in Budapest said there is no cap on the deferred payment and it could increase as market prices for natural gas rise.

 

 Hungary forecasts that the value of the country's oil and gas imports will jump to $19 billion this year, up from $4 billion in 2019.

 

 Rising energy prices are raising concerns about the state of Hungary's economy at a time when billions of euros allocated by the EU remain blocked due to the bloc's fears of corruption.

 

 As a reminder, starting from September 1, Gazprom supplies 5.8 million cubic meters of natural gas per day to Hungary via Serbia, more than provided for in the long-term contract for 2021.

 

 Recently, Prime Minister Viktor Orbán's party proposed conducting a poll in Hungary regarding support for sanctions against the Russian Federation.