Hungary eyes LNG imports from Italy via Slovenia

Energy Trade

Hungary and Slovenia could apply jointly for European Union funding to connect their gas networks, allowing Hungary to import liquefied natural gas (LNG) from Italy, Minister of Foreign Affairs and Trade Péter Szijjártó told state news agency MTI on Saturday.

There is no pipeline that would allow the delivery of LNG from Italian ports to Hungary at present, Szijjártó noted, adding that such an investment would serve to diversify Hungaryʼs energy supply.

Talks are underway on the capacity of an interconnector between the gas networks of Hungary and Slovenia, the minister said. A preliminary survey of market players shows that Hungarian, West European and American companies would all be interested in buying capacity in such an interconnector, he added.

A decision on funding for the interconnector is expected to be taken by the European Council in the spring, Szijjártó said.

The construction of an LNG terminal in Croatia remains uncertain, and the prices at which Croatia wants to sell the gas are too high, the minister explained. Meanwhile, the timeframe for the start of deliveries of offshore gas from Romania extracted by ExxonMobil and OMV is also uncertain, which is why finding new sources of supply is justified, he added.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.