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Hungarian Ambassador discusses gas market development with Gazprom

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World Pipelines,

A working meeting has been held at Gazprom’s headquarters between its Chairman of the Management Committee, Alexey Miller, and Janos Balla, Ambassador Extraordinary and Plenipotentiary of the Hungarian Republic to the Russian Federation.

The parties discussed the current state and future development options of the gas market in southeastern Europe. They considered, discussed and took into account the implementation of the Nord Stream 2 and TurkStream projects.

Nord Stream 2 is a project focused on the construction of a transit-free export gas pipeline with the annual capacity of 55 billion m3. The pipeline will run from Russia to Germany across the Baltic Sea.

TurkStream is focused on the construction a export gas pipeline stretching across the Black Sea, from Russia to Turkey. The first string of the gas pipeline is intended for Turkish consumers, while the second string will deliver gas to southern and southeastern Europe.

In 2015, Russian gas exports to Hungary totalled 6.14 billion m3, rising 15% from 2014. During the course of the meeting, the parties also touched upon Russian gas supplies to Hungary.

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