Naftogaz Group has signed a memorandum with MOL on the construction of petroleum product storage facilities in Hungary to meet Ukraine’s needs.
Serhii Fedorenko, acting chairman of the Naftogaz management board, announced the agreement.
Under the memorandum, the storage facilities will be built near the Ukrainian border.
“Given the constant Russian attacks on our fuel infrastructure, diversifying supply routes and creating additional storage capacity outside the strike zone is essential to the stability of the entire market. This could not only improve the reliability of fuel supplies for Ukrainian consumers but also contribute to the mutually beneficial development of cross-border energy infrastructure between Ukraine and Hungary,” Fedorenko stressed.
He added that the agreement was one of those reached at the Carpathian Economic Forum as part of the C8 Summit.
