Key facts
- Naftogaz Group and Hungarian energy company Mol signed a memorandum to build oil product storage facilities in Hungary.
- The facilities will serve Ukraine's needs and strengthen cross-border energy infrastructure.
- The agreement was signed on September 20, 2026, during the Carpathian 8 Summit.
- The move comes amid fears of Russian drone and missile attacks on Ukraine's energy infrastructure this winter.
Ukraine's state-owned Naftogaz Group has entered into a memorandum of understanding with Hungarian energy company Mol to construct oil product storage facilities in Hungary. The agreement, announced by Naftogaz's acting head Serhii Fedorenko on September 20, 2026, aims to bolster energy security amid anticipated Russian attacks on Ukraine's infrastructure during the winter months.
Fedorenko stated that diversifying supply routes and establishing additional storage capacity outside of attack zones is crucial for market stability. The planned facilities are expected to be situated near the Ukrainian border, serving Ukraine's energy needs while also enhancing mutually beneficial cross-border energy infrastructure.
The memorandum was formalized during the inaugural Carpathian 8 Summit in Ukraine's Ivano-Frankivsk Oblast, a new platform for economic cooperation among Carpathian region countries. Relations between Ukraine and Hungary have seen a gradual improvement since Peter Magyar assumed the role of Prime Minister in May, succeeding Viktor Orban. While Magyar has indicated no plans for military aid to Ukraine or accelerating its EU accession, he has expressed a desire for improved bilateral ties and a more constructive relationship with Ukraine.