Shell inks 10-year gas deal with Hungary's MVM CEEnergy

LONDON (Reuters) - Shell has signed a 10-year natural gas supply deal with Hungarian state-owned energy company MVM Group, the oil major said on Tuesday, in a move designed to strengthen its presence in central and eastern Europe. 

Shell, the world’s biggest liquefied natural gas trader, will sell approximately 200 million cubic metres of natural gas a year to the Hungarian natural gas wholesaler MVM CEEnergy, beginning in January 2026, Shell said.

MVM Group receives a large amount of its gas from Russia, unlike energy providers in most European countries following Russia's invasion of Ukraine. 

(Reporting by Stephanie Kelly and Shadia Nasralla; Editing by Kirsten Donovan)