Hungary Eyes Nigerian Crude Oil, LNG

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The Hungarian Ambassador to Nigeria, Prof. Gabor Ternak disclosed that the Hungarian government has indicated interest in purchasing crude oil and Liquefied Natural Gas (LNG) from Nigeria.

He disclosed this during a courtesy visit to the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, in Abuja, he said the decision to import crude oil and LNG from Nigeria was informed by the need to bridge the current supply gap being experienced in his country.

“Hungary depends on oil importation to serve its energy needs as the country is non-oil producing. We want to diversify our sources of crude oil and LNG imports, and we are considering purchasing these products from Nigeria,” Ternak was quoted as saying in a statement by the NNPC on Wednesday.

He said Nigerian crude oil would be of great help to Hungarian refineries involved in large scale commercial refining.

The envoy stated that Nigeria could also leverage on the bilateral relationship with his country by engaging the services of Hungarian firms that specialised in the repair, maintenance and building of refineries as well as medical services.

Ternak said Hungarian universities with many years of oil and gas engineering expertise could assist Nigeria in the areas of capacity building of oil workers.

The NNPC GMD stated that works on the refurbishment of the corporation’s refineries through original builders of the plants had commenced and that Hungarian firms with the requisite expertise could be considered through sub-contracting by the main contractors.

He said the NNPC, through its subsidiary institution, the Nigerian Leadership Academy, would look into possible areas of collaboration with Hungarian universities for in-country capacity building of oil and gas workers.