Hungary’s prime minister opposes plan to build oil storage facility for Ukraine on Hungarian soil

Hungarian Prime Minister Péter Magyar has expressed opposition to plans to construct an oil storage facility for Ukraine on Hungarian land. The idea was discussed in a memorandum signed between Ukraine’s Naftogaz and Hungary’s MOL in September. Speaking in parliament on September 21, Magyar stated that the project will not progress as long as his Tisza Party maintains power.

He informed MOL’s leadership of his stance, emphasizing that the state holds a 25% ownership in the company. Naftogaz CEO Serhiy Fedorenko announced the memorandum signing with MOL on September 20, stating it was part of the Carpathian Economic Forum. The memorandum aims to build a storage facility for Ukraine near the Hungarian-Ukrainian border to diversify supply routes and enhance security amidst Russian attacks on Ukraine’s fuel infrastructure.

Hungarian authorities clarified that they did not authorize MOL to negotiate the construction of the storage facility. MOL maintained that the agreement is only preliminary and that the project’s preparation would span years. The company also mentioned that they store oil in Hungary for the benefit of other EU nations and countries outside the bloc.

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