Naftogaz and MOL sign deal for Ukrainian fuel storage in Hungary

Ukraine's state-owned energy company Naftogaz and Hungarian oil and gas firm MOL have signed a memorandum of understanding to jointly develop petroleum-product storage facilities on Hungarian territory near the Ukrainian border. The agreement, announced on September 20, aims to create a strategic fuel reserve for the Ukrainian market as Russian attacks increasingly target the country's energy infrastructure. Naftogaz's acting head, Serhii Fedorenko, stated that diversifying supply routes and creating additional storage capacity outside areas facing attacks is a matter of market stability. The proposed facilities would store refined fuels for Ukrainian needs, potentially allowing Ukraine to maintain reserves beyond the reach of strikes on its domestic infrastructure. The memorandum was signed during the inaugural Carpathian Eight summit, a new regional economic cooperation forum held in Ukraine's Ivano-Frankivsk Oblast from September 18-20. The project remains at an early, non-binding stage, with no confirmed construction timetable, investment figure, or planned storage capacity.