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MOL to share gas business

Hungarian oil and gas major MOL is willing to share control of its natural gas trading business with Normeston Trading Ltd, the European Unions said citing the two companies.

MOL would sell 50% of its 100% stake in MOL Energiakereskedő Zrt to Normeston, the daily Népszabadság reported. MOL did not wish to comment the report until the company has reached an official decision on the matter, which is due mid December.

Népszabadság said citing unconfirmed information that the deal is connected with the recent developments surrounding alternative trader Emfesz, which supplies 20% to 25% of the domestic market even though it does not have any long-term supply contracts. (Napi Gazdaság)