• STATS Group

 

Hungary to start South Stream in 2015

Earlier this week, Budapest hosted a meeting between Chairman of the Gazprom Management committee, Alexey Miller and Viktor Orban, Prime Minister of Hungary.

Impact on Hungary

The parties addressed a wide range of co-operation issues, placing special emphasis on the South Stream project. Milley and Orban stressed the importance of South Stream for developing the Hungarian gas transmission sector and economy, as well as for enhancing European Energy security.

Miller and Orban confirmed that construction would start in April 2015. First gas supplies would reach Hungary in early 2017. The routing for the South Stream gas pipeline through Hungary will be determined in the first quarter of 2014.

First gas supplies are expected to reach Hungary in early 2017. South Stream's pipeline will have the capacity to deliver 63 billion m3 across the Black Sea to South and Central Europe, aiming to diversify natural gas transportation routes.

Removing obstacles

Last week, the European Commission warned countries through which the pipeline will pass, to negotiate their agreements with Russia on the South Stream project, in order to comply them with EU laws.

The National Development Ministry said, “Hungary’s governments will do everything in its power to remove obstacles in the way of implementing the South Stream gas pipeline and to see the formulation of a solution that is acceptable to all parties.”

Edited from various sources by Hannah Priestley-Eaton

Published on 12/12/2013


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