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DEAL INITIALLED ON RUSSIAN GAS DELIVERY

Hungary and Russia have agreed to conclude a long-term agreement on the delivery of natural gas from Russia to Hungary, Hungary’s foreign minister said after talks with Gazprom CEO Alexey Miller.
 

“We intend to enter into a 15-year contract, with flexible pricing,” Péter Szijjártó said on the sidelines of the St Petersburg International Economic Forum. The agreement would ensure long-term gas supply security, Szijjártó said, noting that the current deal expires at the end of September. Prices, however, are yet to be negotiated, he said. “What I can say is that the agreements I have brokered before with the head of Gazprom have all been fulfilled completely, so there’s no need for us to have any doubts this time, either.”
Construction on a gas pipeline linking the Hungary-Serbia border to Hungary’s gas pipeline network is set to be completed by Oct. 1, enabling the delivery of large quantities of gas to Hungary. Serbia has completed its part of the project, he said, adding that it was now up to energy companies to discuss the practical aspects.
Szijjártó said he had also discussed the potential acceleration of the upgrade of Hungary’s nuclear power plant in Paks with Rosatom CEO Alexey Likhachev, and everything was set for the next phase of construction to begin by end-Sept.