Mol and Ukraine's Naftohaz sign pact to build oil storage on Hungarian side of border

Mol and the Ukrainian state company Naftohaz have concluded a memorandum of understanding to build oil product storage installations on the Hungarian side of the Ukraine-Hungary frontier. The agreement highlights the need to diversify fuel supply corridors because of persistent Russian assaults on Ukraine's fuel-distribution network. By adding storage capacity in areas not affected by the attacks, the partners aim to bolster overall market stability.

The initiative is described as a long-term measure to guarantee reliable fuel access for Ukrainian users and to promote joint energy-infrastructure development across the border. The memorandum was signed during the first summit of the Carpathian Eight (C8), a regional cooperation platform that includes Ukraine, Hungary and several other Central European states.