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Hungary to sign South Stream contract in H1

Hungary expects to sign a contract in the first half of the year on a stretch of Russia’s South Stream pipeline to pass through the country, Finance Minister János Veres told reporters in Moscow after meeting with Gazprom CEO Alexei Miller on Wednesday.

Veres said questions related to the contract will be discussed next month and the signing, hopefully, will take place already in the first half of the year. Hungary and Russia signed an inter-government agreement on the pipeline on February 28. Answering a question, Veres said it will not affect Hungary if Austria does not participate in the South Stream project.

Russian business daily Kommersant reported on Monday, that Gazprom and Austrian peer OMV no longer see eye to eye on the project, but an OMV spokesman told MTI that there was no dispute between the two companies. Veres, who also heads the Hungarian-Russian mixed inter-government committee, will meet with his Russian counterpart Leonid Reyman on Wednesday evening. Afterward, Veres will travel to Uzbekistan. (MTI-Econews)