Ukraine Will Store Petroleum Products In Hungary

Kyiv and Budapest signed an agreement during the Carpathian Eight summit.

The Ukrainian company Naftogaz and the Hungarian energy conglomerate MOL have signed a memorandum on the construction of petroleum product storage facilities in Hungary near the Ukrainian-Hungarian border. Naftogaz announced this on its Telegram channel.

The document was signed during the Carpathian Eight summit.

The chairman of the board of the Ukrainian company Serhiy Fedorenko stated that diversifying supply routes and creating additional oil storage capacity outside the conflict zone is a matter of stability for the entire market amid constant attacks on fuel infrastructure.

The implementation of this joint project will not only increase the reliability of fuel supplies for Ukrainian consumers in the long term but will also contribute to the mutually beneficial development of cross-border energy infrastructure between Ukraine and Hungary, he added.

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