MOL, Slovnaft undertake €80 mln pipeline modernization

Analysis

Hungarian oil and gas company MOL and its Slovakian unit Slovnaft will spend about €80m to modernize the Adria oil pipeline that runs between the two countries, Slovnaft said on Tuesday.

The investment will significantly boost the crude pipeline capacity that runs between Slovakia and Hungary and will finally give Slovakia an alternative source of supply, said Slovnaft spokesman Anton Molnar in Bratislava.

Slovnaft has asked crude delivery company Transpetrol to join the project.

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