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Hungary To Store Natural Gas for Russia’s Gazprom

By Margit Feher BUDAPEST–Hungary will store natural gas for Russian energy giant OAO Gazprom to help the Russian firm comply with its long-term delivery contracts should there be problems with its regular shipment routes, Hungary’s state-owned power firm MVM said Friday. One of Gazprom’s main shipment routes from Russia to Western Europe run through Ukraine. "Despite the Russian-Ukrainian conflict, shipments from Russia [to Hungary] are uninterrupted, the Russian partner is fulfilling its long-term contract obligations," MVM said. Under a contract with Gazprom Export LLC, Hungary will store 700 million cubic meters on behalf of Gazprom. Of that amount, 135 million cubic meters have already been pumped into Hungary’s storage facilities, MVM said in a statement. Storing gas for Gazprom will boost Hungary’s storage levels by more than 10%, increasing the country’s supply safety ahead of the winter, while the fee Gazprom pays for the service will also add to […]

Posted On : Published By : Tom Whipple
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Hungary halts flow of gas to Ukraine

General view of the gas station near the border between Ukraine and Poland in the settlement of Drozdovychi, 120 km (75 miles) west of ukrainian city of Lviv. Hungary has stopped supplying gas to Ukraine through a “reverse flow” pipeline just days after the head of Russia’s Gazprom monopoly visited Budapest, Ukraine’s gas utility said. Naftogaz, the Ukrainian distributor, said Hungary had stopped transporting gas at 19.00 Ukrainian time on Thursday, notifying Kiev that it was halting supply “for technical reasons” until further notice. It came after Alexei Miller, Gazprom chief executive, on Monday met Hungary’s premier Viktor Orbán, Naftogaz said. The stoppage put further pressure on Ukraine and the EU ahead of trilateral talks with Russia in Berlin on Friday over restoring gas supplies to Ukraine after Gazprom suspended them because of a dispute over pricing and payment arrears. Hungary, together with Slovakia and Poland, have been helping […]

Posted On : Published By : Tom Whipple