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MOL CEO urges Hungary to integrate energy market

Oil and gas company CEO György Mosonyi told a conference that Hungary should use its EU presidency in the first half of 2011 to take the lead in creating an integrated gas and electricity market in the region.

An element of this market would be the New Energy Transmission Network (NETS), a project initiated by MOL to connect gas networks in the region, Mosonyi said.

Csaba Molnár, Hungary's minister in charge of energy affairs, said at the conference that the EU has realised over the past years that energy policy is not just a matter of economics, but of security. The challenge of the coming period will be to reduce energy dependence and establish a community energy policy, he added.

Roland Kobai, a member of the European Commission's energy affairs cabinet, said secure energy supply would be a central question at the time Hungary takes over the rotating EU presidency. (MTI – Econews)