Budapest is exploring purchases of liquefied natural gas (LNG) and nuclear fuel from the United States, with plans to allocate $600 million for American LNG and $114 million for a contract with Westinghouse Electric Co., according to Bloomberg reports citing unnamed sources. The agreement also includes commitments to acquire up to 10 small modular reactors, potentially costing Hungary around $20 billion.
Hungarian Foreign Minister Peter Szijjarto described ongoing talks between the state energy company MVM and U.S. partners as “advanced,” stating that a finalized deal would secure 400 million cubic meters of LNG annually for the country. The negotiations mark a significant shift in Hungary’s energy strategy, focusing on diversifying supply sources amid geopolitical uncertainties.
