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Reuters

Business

Hungary gets exemption from planned EU gas price cap, PM Orban says

European Union Hungary Gazprom Christian Schmollinger Viktor Orban Brussels Russia

FILE PHOTO: Hungarian Prime Minister Viktor Orban speaks during a joint news conference with Serbian President Aleksandar Vucic and Austrian Chancellor Karl Nehammer (both not pictured), in Budapest, Hungary October 3, 2022. REUTERS/Bernadett Szabo/File Photo

Hungary's prime minister said on Friday that an agreement had been reached at the EU summit in Brussels that any future EU gas price cap will not apply to long-term gas supply deals like the 15-year deal that Hungary has with Russia's Gazprom.

Prime Minister Viktor Orban said on his Facebook page that "We got an exemption from the gas price cap so that will not jeopardize Hungary's security of gas supply."

He also said that even if there is a joint gas procurement in Europe "that will not be mandatory for Hungary."

(Reporting by Krisztina Than; editing by Christian Schmollinger)

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