Hungary secures deal to import Russian oil via Druzhba pipeline

Hungary's MOL Group has secured a deal to import Russian oil via the Druzhba pipeline, marking a key development in the country’s energy strategy.

The announcement was made on the Budapest Stock Exchange's website , News.Az reports.

The agreement involves transporting crude oil through Belarus and Ukraine to Hungary and Slovakia. MOL Group confirmed that the new arrangements comply with both EU and Ukrainian sanctions. Starting in 2024, the company will manage the Russian oil volumes and oversee operations at the Belarus-Ukraine border from September 9, 2024.

Gabriel Szabo, MOL Group’s Executive Vice President for Downstream, commended the deal, stating, "This agreement ensures a reliable solution for transporting crude oil through the Druzhba pipeline. It represents a major achievement, allowing us to continue using advanced processing technologies at our refineries in Hungary and Slovakia, thereby enhancing supply security in both nations."

The Druzhba pipeline, a crucial route for Russian oil, has two branches: the northern branch, which runs through Belarus, Poland, and Germany, and the southern branch, which passes through Ukraine. The northern branch has been inactive since summer 2023 due to sanctions, while the southern branch remains operational, supplying oil to Hungary, Slovakia, and the Czech Republic, and continuing to be a critical energy route for the region.

News.Az