Hungary calls bid for building natural gas storage July 20
The Hungarian Association of Hydrocarbon Stockpiling, an organization set up by oil and gas importers and supervised by the government, is seeking offers from energy companies to provide expired gas fields that could be used as storage units, József Csernák, head of the association, said by telephone yesterday. The association has set up a company to manage the bid and it will start talks with selected companies once the offer period closes Aug. 3, he added. The company is expected to call bids later to build the gas storage facility and fill it with gas, he added. Hungary, which uses more gas per capita than any other European Union country except for the Netherlands, plans to add more gas storage to cope with future shortages of the fuel. It was one of the countries where Russian gas supplies were cut by 20% to 25% from mid-January to early February because of a cold snap in Russia. Hungary's storage facility is scheduled to start operation by 2010 and would store about 1.2 billion cubic meters of natural gas. E.ON AG of Germany, Hungary's Mol Nyrt and Russia's OAO Gazprom are interested in the Ft 150 billion ($677 million) project, an Economy Ministry spokesman said Feb. 15. (Bloomberg)
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.