Hungary, Slovakia ink Eastring pipeline deal

Energy Trade

Hungary and Slovakia on Monday signed a declaration of intent on the construction of the Eastring gas pipeline, a transmission route between hubs in Western Europe and the Balkan region and Turkey, according to state news agency MTI.  

The agreement on the stretch of the pipeline that passes through the two countries was signed by Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó and Slovakian Minister of Economy Peter Žiga in the presence of Slovakian Prime Minister Robert Fico.

Eastring will link the gas transmission systems of Slovakia, Hungary, Romania and Bulgaria, establishing a bi-directional connection between West European hubs and gas reserves in the Caspian region and the Middle East.

Eastring will have an annual capacity of 30-40 bln cubic meters of gas, Žiga said.

According to the projectʼs website, Eastring will not own or sell any natural gas and once available, all its capacity will be offered to any shipper or supplier.

"Once built, Eastring will offer direct and most cost-effective transportation route in between the Balkans and the rest of Europe. It will enhance the security of supply as well as it will bring the opportunity of diversification of natural gas sources," says the site.


Czech economic confidence improves in May Analysis

Czech economic confidence improves in May

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


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.