Hungary to contract for TurkStream gas capacity

Energy Trade

Hungary will launch a procedure to contract for gas capacity of the TurkStream pipeline in September, Minister of Foreign Affairs and Trade Péter Szijjártó said after a meeting of the Hungarian-Bulgarian Joint Economic Committee in Budapest Tuesday.   

Russiaʼs Gazprom is working with Bulgaria and Serbia to bring gas delivered through the TurkStream (originally Turkish Stream) pipeline - running from the Russkaya compressor station near Anapa in the Krasnodar region, across the Black Sea to Kıyıköy on the Turkish Thrace coast - as far as Hungary and Austria. Bulgaria has already started the necessary investments, Szijjártó said.

The minister said gas deliveries from the south would become even more important if Russian gas deliveries via Ukraine cease or if offshore wells in the Black Sea start producing gas.

Bilateral trade between Hungary and Bulgaria could exceed EUR 1.5 billion this year, which could be boosted further by a EUR 165 million credit line Magyar Eximbank has opened to support partnerships between Hungarian and Bulgarian businesses, Szijjártó noted.   

Bulgarian Minister of Economy Emil Karanikolov said talks on the timeframe for gas deliveries would continue. He welcomed the pickup in trade and development of economic ties between Bulgaria and Hungary, noting that tourism and agriculture were among the important topics discussed at the meeting of the joint committee.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

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.