Report: Gazprom examines option to use Hungary gas storages

Energy Trade

Russia’s Gazprom is looking into the possibility of keeping Russian gas in Hungary’s big underground reservoirs, Hungarian news agency MTI wrote citing a report by the Russian government daily Rossiyskaya Gazeta yesterday. 

Hungarian Foreign Minister Péter Szijjártó told Reuters earlier in January that he had proposed to Russian Energy Minister Alexander Novak that Russia should store more gas in Hungary’s big underground reservoirs. “The more gas stored here, the better for us - economically, and regarding energy security as well,” Szijjártó said, adding that no deal had been sealed.

Gazprom has stored up to 700 million cubic meters of gas in Hungary since last year. “Although this is not a big investment project, it is a good cooperation and we will work in this direction further, Rossiyskaya Gazeta cited Gazprom spokesman Sergei Kupriyanov as saying.

Speaking to the daily, head of the Russian Gas Association Sergei Chizhov termed the Hungarian offer to store Russian gas a very precious one, but said the issue was purely geopolitical in his view. But if the agreement is reached, Hungary would become the regional ally of Russia, and the Hungarian storages would put Russia to an advantage, he said.

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya Analysis

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.