Shell Hungary to sell natural gas
Shell Hungary opened its natural gas wholesale branch, said director István Varga at a press conference in Budapest yesterday.
Hungary is the seventeenth country joining Shell's natural gas distribution network. The division's main focus is on industrial users, but they sell to providers and electric power plants as well, while they are not involved in retailing household quantities. Most of the gas they are to sell here comes from Russia. 10% of Shell's costs are infrastructural, and 90% the raw material cost.
Shell promotes change in certain market regulations: right now switching the provider takes 3 months, and they wish to make this procedure quicker and easier. 14 billion cubic meters of natural gas are sold in the Hungarian market, 2.5% of total European sales. 60% of the quantity used in Hungary goes to the industry and providers, the rest is used in households. Shell owns the second largest retail network in Hungary with 185 gas stations. The company has invested $200 million so far, and created 4,000 work places. Shell Hungary's turnover was over Ft 200 billion ($1,1 bilion) in 2006. Shell is the second biggest participant after Exxon in European natural gas retail with an annual 40 million cubic meter natural gas and liquid gas. (Gazdasági Rádió, Napi Gazdaság)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.