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MOL calls for merging gas networks

Hungarian oil and gas major MOL has initiated negotiations with eight natural gas suppliers in the Central-Eastern European region in order to merge their high-pressure gas networks in one joint company.

MOL CEO György Mosonyi told French economic daily Les Échos that most of the gas suppliers in Eastern Europe do not have ample funds for infrastructure development while a joint company could access funds easier. Negotiations have started and the first joint meeting with the companies involved is expected to be held at the end of the month, the CEO added. György Mosonyi admitted that the project is difficult as approval of competition agencies, governments and shareholders will be needed. Meanwhile, no pressure has been indicated from Russia to prevent the „association,” the MOL head explained. (Gazdasági Rádió)