Naftogaz Group and MOL have signed a memorandum on the construction of petroleum product storage facilities in Hungary near the Ukrainian-Hungarian border. The document was signed on the sidelines of the Carpathian Eight Summit.
This was reported by the Ukrainian company’s press service.
As Serhii Fedorenko, acting chairman of Naftogaz’s management board, noted, amid ongoing Russian attacks on Ukraine’s fuel infrastructure, diversifying supply routes and creating additional storage capacity outside the shelling zone is a matter of stability for the entire market.
“In the longer term, implementing the joint project will not only improve the reliability of fuel supplies for Ukrainian consumers, but will also contribute to the mutually beneficial development of cross-border energy infrastructure between Ukraine and Hungary,” he believes.
- Overall, at the Carpathian Eight Summit, the Naftogaz Group signed a number of strategic initiatives with leading energy companies from Poland, the Czech Republic and Hungary.