Hungary to import LNG from Egypt by 2026

Hungary found a solution for its energy issue as it will be able to import liquefied natural gas (LNG) from Egypt starting 2026, which increasing the country’s energy security, Hungarian Prime Minister Viktor Orbán said on Tuesday.

Egypt’s President Abdel Fattah al-Sisi received on Tuesday Orban, who is on a three-day visit to Egypt, to discuss bilateral cooperation, in addition to regional and international files of mutual interest.

The two leaders witnessed the signing ceremony of a number of MoU between Egypt and Hungary in various fields, including education and training in the peaceful uses of nuclear energy, youth and sports.

This increased the number of undergraduate and post-university scholarships for the years 2023/2026, and the Hungarian Scholarship Programme Stipendium for the years 2023/2026.

“We agreed on the great benefit that Hungarian investors will accrue from investing in Egypt, especially in the Suez Canal Economic Zone (SCZone),” according to al-Sisi.

Orbán also stated that “there is also an Egyptian business forum conducted with 86 Hungarian and Egyptian companies, which strengthening the relationship between the two countries. We will also be able to form cooperation in nuclear energy.”

Egypt can export 12 million tons of LNG yearly, as it will contribute to Europe’s supply of natural gas as one of the important materials in this regard.

Noteworthy, both countries enjoy mutual trade movement, where top Egyptian exports to Hungary are: cotton, vegetables, fruits, Cement, Fertilizers, and carpet, while the top imports from Hungary are: electronic devices, glass, aluminum, fuel, rubber, and organic chemicals.