Hungary, Slovenia Sign MoU on Gas Interconnector
Hungary and Slovenia signed a memorandum of understanding in Budapest on Wednesday on the construction of an interconnector between the two countries' gas networks within two years, according to a report by state news wire MTI.
The MoU was signed by Minister of Foreign Affairs and Trade Péter Szijjártó and Slovenian Minister of the Environment, Climate and Energy Bojan Kumer.
At a joint press conference after the signing, Szijjártó said Hungary's share of the cost for the interconnector with an annual bidirectional capacity of 440 million cubic meters would come to EUR 75 million.
The interconnector will make a "significant contribution" to the security of Hungary's energy supply and pave the way for access to sources of LNG from Italy, he added.
At present, Hungary has access to an LNG terminal off the coast of Croatia.
The sides also agreed on Wednesday on closer cooperation in the area of nuclear energy.
Slovenia has decided to extend the lifespan of its existing nuclear power plant and is weighing the construction of new reactors, Szijjártó noted, adding that the two countries would "coordinate closely" on the matter.
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.