Prime Minister Viktor Orbán met on Tuesday with Alexey Miller, CEO of Russian oil and gas giant Gazprom, in Budapest, prime minister's spokesman Péter Szijjártó told MTI.
The two men reviewed questions concerning cooperation between Russia and Hungary in the energy sector, Szijjártó said.
Gazprom said on its homepage that the delegations reviewed the progress of the implementation of the South Stream pipeline, finding it was proceeding on schedule.
Miller and Orbán stressed that preparations to build the South Stream pipeline were extremely timely and important, and they were in line with the strategic interests of both countries as well as of the entire European region.
The South Stream pipeline will run from Russia under the Black Sea to Bulgaria, bypassing Ukraine, whose rows with Moscow have interrupted gas deliveries to Europe several times in recent years.
In 2010, Gazprom and the Hungarian Development Bank (MFB) established a project company to build the stretch of the South Stream pipeline that passes through Hungary.