Hungary section of South Stream pipeline could be transferred to MVM - Világgazdaság
The Hungarian section of the South Stream gas pipeline could be transferred to the state-owned Hungarian Electricity Works (MVM) from the state-owned Hungarian Development Bank, business daily Világgazdaság reported on Thursday.
The paper said progress was made on the project at the Moscow talks between Hungarian development minister Tamas Fellegi and chairman of Gazprom's board of directors Aleksey Miller on September 16, which was confirmed at Fellegi's talks with Russian deputy prime minister Viktor Zubkov in Budapest on October 11. "With the gas import investment project now enjoying government support, the track variety bypassing Hungary can now be removed from Gazprom's list of project options," the paper said.
The paper notes that the strengthening of the state-owned electricity group is one of the key elements of Hungary's energy strategy. Through its subsidiaries, MVM will control the country's gas exchange as well as part of the gas trade and transport sector.
ADVERTISEMENT
Minister Asks Banks to Introduce Voluntary Rate Caps
Hungary, Poland Diverging in Views of Russia
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.
