Hungary, Slovakia sign MoU on gas interconnector expansion

Energy Trade

Hungary and Slovakia signed a memorandum of understanding on Friday on expanding gas interconnector capacity, state news wire MTI reports.

The agreement was signed by Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó and Slovak Minister of Economy Peter Žiga.

Szijjártó said the sides want to boost the bidirectional capacity of the interconnector between the gas networks of the two countries to an annual 5.3 billion cubic meters. A capacity contracting procedure will be launched in the summer, he added.

The interconnector, which started commercial operation in 2015, now has an annual firm transmission capacity of 4.5 bln cubic meters from Slovakia to Hungary and an interruptible capacity of 1.8 bln cubic meters in reverse mode.

Szijjártó noted that Hungary would start taking deliveries of gas through the TurkStream pipeline from 2021, and the volume the country doesnʼt use could be delivered to Slovakia.

Russia started delivering gas to Turkey through the TurkStream pipeline, which runs under the Black Sea, in January. The pipeline, designed to bypass Ukraine, is being extended towards Bulgaria, Serbia, and Hungary.


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.