Hungary’s prime minister opposes plan to build oil storage facility for Ukraine on Hungarian soil

Filed 54m ago · Via Meduza · The Buffoon Desk

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Bumbly March

Kevin MacLeod · incompetech.com · CC BY 4.0

Photo: Prime Minister's Office · GODL-India · via Wikimedia Commons

Hungarian Prime Minister Péter Magyar told parliament on September 21 that a planned oil storage facility for Ukraine near the Hungarian border will not go forward while his Tisza Party holds power. The facility was the subject of a memorandum signed a day earlier between Ukraine's Naftogaz and Hungary's MOL, in which the state holds a 25 percent stake, at the Carpathian Economic Forum.

Naftogaz CEO Serhiy Fedorenko framed the project as a stability measure, citing Russian attacks on Ukrainian fuel infrastructure and the need for storage outside the strike zone. Hungarian authorities said the government never authorized MOL to negotiate such a deal, and MOL itself described the agreement as only preliminary, with any actual construction years away.

The full dispatch is available from the source below.

✒ FROM THE EDITORIAL DESK

A company signs a memorandum, a prime minister disowns it the next day, and everyone insists the paperwork barely matters yet. That's a fair amount of noise over a project MOL itself says is years from breaking ground. Watch whether the 25 percent stake or the political calendar decides this one, because right now it sounds like both sides are negotiating through press statements instead of each other.

Source: Read the original at Meduza → Scored: Bumbly March · Kevin MacLeod · CC BY 4.0

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