Palkovics said ensuring the security of Hungary’s energy supply is a priority in the country’s energy policy, and an important part of this policy is diversifying gas supplies.

Fully 95% of Hungary’s gas imports are delivered from Russia through Ukraine, thus the goal is to ensure supply from other countries, for example from liquefied natural gas (LNG) terminals in the north or the south of Europe, he said.

Cornstein agreed that achieving energy independence is an important goal and said Hungary could count on the support of the United States in this effort. Palkovics said that the US is Hungary’s biggest investor outside of Europe, while Hungarian companies are active in IT, life sciences and biotechnology in the US.

Doing business in Hungary is worthwhile, Cornstein said, noting the importance of strengthening economic, scientific and technological ties between the US and Hungary.

Photo: Botár Gergely / kormany.hu