WSJ: Hungary Fills Up Natural Gas Reserves

Hungary has filled up its natural gas reserves to the required amount before the July 1 deadline as gas shipments from Russia through Ukraine have been steady, the Hungarian development ministry confirmed on Wednesday.

Hungary has filled up its safety natural gas reserved to the required 915 million cubic meters and plans to increase that to near 2 billion cubic meters later this year.

Hungary’s state-owned utility company MVM Zrt. said last week that it will buy natural gas for 100 billion forints ($440.6 million) to boost the country’s reserves for the winter.

MVM’s natural gas trading company MVM Foldgazkereskedo Zrt. will finance the purchase with a loan from the government, the company said in a statement. The company didn’t specify where it will buy the gas from.
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