Hungary ready to use Ukraine’s underground gas storage facilities

Energy Trade

The Hungarian Power Companies Ltd. is holding talks with a Ukrainian state company on the use of underground gas storage facilities in Ukraine.

This was announced by Hungarian Prime Minister Ferenc Gyurcsány following his meeting with President Viktor Yushchenko in Mukachevo, Transcarpathian region. We are negotiating on a small part of these facilities all of which allow for storage of 30 billion cu. m of gas as proposed by President Yushchenko. We are discussing a tentative storage volume of up to 1 billion cu. m of gas, Gyurcsány said at the press-conference following the meeting. He underlined that the Hungarian side contemplates the possibility of using the Ukrainian gas storage facilities on a commercial basis. The Hungarian government, according to Gyurcsány, supports the Hungarian Power Companies Ltd. in this issue and is ready to prepare and sign a relevant intergovernmental agreement with Ukraine. (nrcu.gov.ua)

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.

Support the BBJ

Energy