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Hungarian Prime Minister opposed the construction of an oil storage facility for Ukraine in the country

Hungarian Prime Minister Opposes Construction of Oil Storage Facility for Ukraine in the Country

Hungarian Prime Minister Peter Magyar has expressed his opposition to the construction of an oil storage facility for Ukraine on the country's territory.

The memorandum on the construction was signed in September between Ukraine's "Naftogaz" and Hungary's "MOL" companies. In his speech in parliament on September 21, Magyar stated that if his "Tisa" party were in power, such construction would not be allowed. The Prime Minister communicated his position to the management of "MOL" and also reminded them that the state holds a 25 percent stake in the company.

The signing of the memorandum with "MOL" was announced on September 20 by the head of "Naftogaz," Sergey Fedorenko. The agreement was concluded within the framework of the Carpathian Economic Forum. It envisages the construction of a storage facility for Ukraine's needs near the Hungarian-Ukrainian border.

Hungarian officials stated that the government did not authorize "MOL" to negotiate the construction of the storage facility. The company, meanwhile, emphasized that this is only a preliminary agreement and that the project preparation process will take years. "MOL" also pointed out that it engages in oil storage in Hungary for the interests of other European Union countries and non-member states.

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