FM Petér Szijjártó and Russian Energy Minister Alexander Novak discussed energy cooperation between the two countries in Moscow

Monday, December 22, 2014

Hungarian Foreign minister Petér Szijjártó and Russian Energy Minister Alexander Novak discussed energy cooperation between the two countries in the wake of the cancellation of the South Stream gas pipeline project on Monday in Moscow. The two ministers also reviewed Russian gas deliveries to the whole of Central Europe as well as the position of Hungarian gas company Mol on the Russian energy market.

It is a good news for the whole of Europe and Hungary especially that the Russian energy minister has confirmed that energy cooperation with Europe remains an important issue for Russia said Szijjártó. The Russian energy minister has also announced that natural gas deliveries that Russia originally intended for the South Stream gas pipeline would be redirected to Turkey where a major regional gas distribution center would be set up near the Turkish-Greek border.

In relations to the Russian announcement, Szijjártó remarked that the next major step for Hungary would be to find the financial, technical and infrastructural means necessary to build a new pipeline delivering natural gas to Hungary through the Balkan region.

Hungary will start negotiations on a new pipeline project with Greece and some potential Balkan countries that might join the new pipeline construction project. The foreign minister remarked that the last week Hungarian officials already held talks on some of these issues with the foreign ministers of Serbia and Macedonia - these consultations will be more intense in next year.

Lots of infrastructural, financial and technical issues should be sorted out before establishing the exact route of the new pipeline, which can safely and competitively can deliver natural gas to Central Europe said the Hungarian foreign minister.

Russian Energy Minister Alexander Novak stressed that Russia is a reliable supplier of Russian gas to European customers and understands the concerns of the European countries regarding the suspension of the South Stream gas pipeline. Russia is ready to engage in a serious multilateral dialogue with her European customers to find common solution to Russian gas deliveries to Europe outside the framework of the South Stream project.

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Anonymous said...

Russia Cannot be Squeezed Out of Energy Market

The surprise energy agreement between Russia and Turkey was preceded by two other proposals: first, Israel was prepared to supply the European Union with gas that it would steal from its neighbors; on the other hand, Azerbaijan also stood ready to supply gas. Ultimately, only the Russian proposal turned out to be both serious and profitable.
...The European Union cut off its nose to spite its face when it was creating obstacles on the way of the South Stream making it possible for Moscow to introduce drastic changes into its gas export policy (adding latitudinal and meridian directions).
...Does the agreement reached in Ankara make the South Stream dead? True, the project in its previous form is a thing of the past. Russia may get back to it but only on its own terms. The time is right to concentrate on the new project. Many experts believe that the route should be continued from the point at the Greek border. The EU has done its best to hinder the South Stream so now it will have to shoulder the financial burden. If Brussels wants to optimize the expenditure according to the wishes of interested member-states, then it will have to make gas flows follow the previously planned route across Greece and Macedonia to Serbia, Hungary and Austria. Some efforts have already been applied to start the construction. It may make the route longer but will not require additional expenditure unavoidable in case of sea bed pipeline construction...

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