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Gazprom Plans To Build Gas Storage in Hungary

Gazprom and Hungarys energy concern MOL signed an agreement on the construction of a major natural gas storage facility in Hungary, RBC reported Tuesday

The document was signed as a result of Russian-Hungarian intergovernmental consultations in Moscow.

Earlier, Hungarian Prime Minister Ferenc Gyurcsany announced that the storage facilities would allow Hungary to ensure one half of the country's demand for gas.

The construction of the subsurface storage facility is likely to be a part of Gazprom's other major project - the construction of the South Stream pipeline project.

Source: RBC

Author: Ksenia Kochneva