Ukrainian energy company Naftogaz and Hungary’s MOL plan to build additional petroleum product storage capacity near the Ukrainian-Hungarian border. The companies signed a memorandum on the project, Naftogaz said on its Telegram channel.

The agreement was concluded during the Carpathian Eight summit. The planned facilities will be located on Hungarian territory close to the border with Ukraine.

Naftogaz CEO Sergei Fedorenko said the project is intended to broaden supply options and create additional oil storage capacity outside areas exposed to attacks. With fuel infrastructure facing repeated strikes, he said such measures are important for maintaining stability across the market.

The joint initiative is also expected to make fuel supplies to Ukrainian consumers more reliable. Naftogaz expects the project to support further development of cross-border energy infrastructure linking Ukraine and Hungary.

Earlier, Hungarian Economy and Energy Minister Istvan Kapitany said Budapest intends to secure the country’s gas supply without Russian deliveries by autumn 2027. Hungary is also looking for an alternative to Russian oil and deciding the future of the Paks II nuclear power plant, which is being built by Rosatom.