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Hungary ready to use Ukraine’s underground gas storage facilities

The Hungarian Power Companies Ltd. is holding talks with a Ukrainian state company on the use of underground gas storage facilities in Ukraine.

This was announced by Hungarian Prime Minister Ferenc Gyurcsány following his meeting with President Viktor Yushchenko in Mukachevo, Transcarpathian region. We are negotiating on a small part of these facilities all of which allow for storage of 30 billion cu. m of gas as proposed by President Yushchenko. We are discussing a tentative storage volume of up to 1 billion cu. m of gas, Gyurcsány said at the press-conference following the meeting. He underlined that the Hungarian side contemplates the possibility of using the Ukrainian gas storage facilities on a commercial basis. The Hungarian government, according to Gyurcsány, supports the Hungarian Power Companies Ltd. in this issue and is ready to prepare and sign a relevant intergovernmental agreement with Ukraine. (