LNG exports from Central and South America to play a crucial role for Europe, Hungary’s minister says

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Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó said that liquefied natural gas (LNG) exports from Central and South America will play an increasingly important role in the European Union’s energy supply, with Trinidad and Tobago being a key player.

The minister said that the foundations of the LNG partnership are in place and its implementation will coincide with Hungary’s presidency of the Council of the EU in the second half of the year.

Trinidad and Tobago exported 10 billion cubic metres (bcm) of LNG last year, with more than 4 bcm being sold to Europe, he said. Also, the country reached an agreement with Venezuela on joint extraction and exports.

Minister Szijjártó noted the EU’s Global Gateway scheme which supports, among other things, development projects needed to import LNG from the region.

“And this year, a decision was reached on making the operations of the energy and petrochemical industries here more eco-friendly than ever before,” the minister said.

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