ADVERTISEMENT

Hydrocarbon, geothermal mining tenders announced

Conferences

In keeping with its previously stated goals to diversify energy resources and securing local supply, the National Development Ministry today announced tenders for geothermal energy and hydrocarbon mining concessions. 

The 35-year geothermal energy concessions up for bid are for located in Jászberény, Ferencszállás and Kecskemét, while 20-year hydrocarbon concessions are set in the Southern Great Plain region in the Battonya-Pusztaföldvár area of Békés County. Deadline for the applications in November 15, with awarding of the tenders to be announced by mid-February 2014.

The tenders represent an aggressiveness on the part of the sitting national government to strengthen the country’s mining industry as announced at the Investors Forum on Concessions held in Budapest in June; likewise, the intention to launch said tenders was imparted at the forum. Prime Minister’s Office Chief Advisor Réka Szemerkényi at that time emphasized the crucial role of concession tenders in “support[ing] the country’s economic performance,” in “increasing energy supplies” and in “the diversification of our energy resources.”

Climate and Energy Affairs Minister Pál Kovács reported at the forum that the role of mining in Hungary called for reevaluation, with his statistics showing that 62% of the country’s energy consumption is currently based on imported fossil fuels, while 82% of natural gas is imported.
Hungary is not a poor country in energy reserves,” Kovács stated at that time. “Use of our hydrocarbon reserves and geothermal potential can significantly improve Hungary’s security of supply in the long term and substantially reduce its dependence on imports.”

ADVERTISEMENT

Czech economic confidence weakens in October Analysis

Czech economic confidence weakens in October

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.