Hungary & Gazprom agree gas supplies via Turkish Stream pipeline

Latest news

    View the original article: https://www.rt.com/business/395370-hungary-gazprom-turkish-stream/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

    Russian energy major Gazprom has signed an agreement with Hungary to deliver gas via the Turkish Stream pipeline, the MTI news agency reported, citing Hungary’s Foreign Minister Peter Szijjarto.

    Read more

    Hungary hungry for Russian gas by hook or by crook

    He said the Turkish Stream branch to Hungary would be completed by the end of 2019. Budapest sees Turkish Stream gas supplies as the best option because other routes, across Romania and Croatia, are at an early stage, the foreign minister added.

    “This will improve Hungary’s energy security a great deal, so it is in our strategic interest for this cooperation to start,” said Szijjarto.

    The Turkish Stream gas pipeline will consist of two branches. The first with a maximum capacity of 15.75 billion cubic meters, is expected to be finished in 2018 and to deliver Russian natural gas directly to Turkey. The second branch is supposed to deliver gas to European customers.

    Russia accounts for over 75 percent of oil and 60 percent of gas consumption in Hungary which is supplied via Ukraine.

    The Prime Minister of Hungary Viktor Orban said earlier his country would prefer to diversify the delivery method, including via the Nord Stream or Turkish Stream pipelines.

    Read more

    Gazprom begins Turkish Stream pipeline construction

    In February during a state visit to Hungary Russian President Vladimir Putin guaranteed the country would receive the contracted amount of oil and gas, and confirmed deliveries using northern and southern routes were also possible. He said that Nord Stream-2 could deliver gas to Hungary through Slovakia and Austria.

    “We are studying all these possibilities, but can say for sure: Russian gas will reliably come to the Hungarian market, it is a hundred percent probability,” Putin told Orban.

    Gazprom CEO Aleksey Miller announced the start of the Turkish Stream pipeline construction in May. He said that “by late 2019 our Turkish and European consumers will have a new, reliable source of Russian gas imports.”

    The Turkish Stream project was signed by Putin and his Turkish counterpart Recep Tayyip Erdogan in October 2016. Its total cost was estimated at €11.4 billion ($12.9 billion).

    In the same category are

    Majority of Austrians support closing of mosques as govt battles ‘political Islam’ – poll The Austrian government’s push against “political Islam” has drawn popular support, a recent poll shows. While more than 60 percent approve of the mea...
    Hit ‘em where it hurts: Chinese tariffs target American nuts & hundreds of other products In an attempt to kick Washington in its natural resources, Beijing has revealed a list of US goods set to be affected by the first round of retaliator...
    ‘We don’t want European-style immigration here’: Trump slams Merkel’s policy Amid a national furor over his immigration policy, US President Donald Trump took to Twitter to call for stronger border laws, citing Germany’s ‘open-...
    Almost half of Indians out of drinking water by 2030, 600 million facing shortages – study Hundreds of millions of Indians are in need of clean water and demand may twice exceed the available supply by 2030, a government think tank has warne...
    WORLD CUP 2018 DAY 5 LIVE #FansEyeView #FootWall WORLD CUP 2018 DAY 5 LIVE #FansEyeView #FootWall 19 Jun, 2018 12:23 'Aware of its significance’ – England fans pay respects at WWII memorial, win f...
    Deadly quake interrupts traffic, wrecks houses & causes blackout in Japan’s Osaka area (VIDEOS) As well as killing at least three people and injuring hundreds, a powerful earthquake in the Osaka region has briefly brought chaos to local transport...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.