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Gazprom may revise blue stream tract

Deals

Russian energy giant Gazprom signed a statement of intent with Serbia earlier this week to build 400 kilometers of natural gas pipeline in the country that would serve as an extension to the Blue Stream delivery route through Bulgaria, Serbia and Croatia.

The plan competes with another proposed extension route through Hungary, a project currently in the concept phase with a joint venture set up earlier by OAO Gazprom and Mol Hungarian Oil and Gas Nyrt to explore possibilities. The new agreement does not pose a threat to Hungary’s future role as a regional distributor of natural gas, Mol Communications Officer György Bacsur said, referring to Gazprom’s long-term plans to use strategic storage facilities in Hungary to meet peak demand.

Hungary is also part of the proposed route of the Nabucco pipeline from Turkey to Austria, a project in which Gazprom has been recently invited to participate, news portal Inforadio.hu reminded, quoting industry opinions that the Blue Stream and Nabucco may eventually become mutually exclusive projects. (Népszabadság)

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