MVM, Gazprom Export to discuss increased gas deliveries

Energy Trade

Officials of the state-owned Hungarian Electricity Works (MVM) and Russian Gazprom will discuss further deliveries of gas from Russia to Hungary in a meeting this week, Hungarian business daily Világgazdaság reported today.

The current meeting is the follow-up of last week’s discussions in Vienna by Development Minister Miklós Seszták and his Russian counterpart Alexander Novak.

According to Világgazdaság, the Russian seller is seeking guarantee that the gas aimed to boost Hungary’s energy security will not turn up on international markets.

The HUF 100 bln cost of the gas surplus is provided by a loan from MVM’s owner to its gas trade unit Magyar Földgázkereskedő, according to recent press reports. The paper noted that it is not clear whether the amount of money is used entirely for the acquisition only or for covering the costs of delivery and storage as well.

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.