Latest Articles about Hungary
GAS COMPANIES WELCOME HUNGARIAN MOL’S “NETS” PROJECT FOR CENTRAL AND SOUTHEASTERN EUROPE
On March 14 Romania hosted the first joint meeting of the gas transmission companies from Central Europe and Balkan countries to consider the NETS project. Hungary’s energy company MOL initiated the NETS project -- New Europe Transmission Systems -- last December (see EDM, December 10,... MORE
SOUTH STREAM GAS PROJECT DEFEATING NABUCCO BY DEFAULT
Gazprom’s blitzkrieg capture of five European Union member countries for its South Stream project, preempting the EU- and U.S.-backed Nabucco project, has shattered the credibility of Brussels’ and Washington’s energy security agendas. Country after country (excepting the lone holdout, Romania) have succumbed to the Kremlin-backed... MORE
HUNGARY’S SOCIALIST GOVERNMENT JOINS GAZPROM’S SOUTH STREAM PROJECT
On February 28 Hungary’s Socialist Prime Minister Ferenc Gyurcsany joined Russia’s outgoing and incoming presidents, Vladimir Putin and Dmitry Medvedev, in Moscow to seal an intergovernmental agreement on Gazprom’s further expansion into European Union territory via Hungary. Hungary’s privately owned energy company MOL is staying... MORE
NABUCCO PROJECT APPROACHING A REAL START
Germany’s Rheinisch- Westfaelische Elektrizitaetswerk (RWE) has joined the EU- and US-supported Nabucco pipeline project for Caspian gas to Europe. RWE is Germany’s largest energy company overall and second-largest gas distributor. On February 5 in Vienna, the Nabucco consortium’s five founding companies -- Austria’s OMV as... MORE
HUNGARY’S MOL STAYS WITH NABUCCO, BUT PRIME MINISTER WEIGHS SOUTH STREAM ALSO
Gazprom-controlled Kommersant claimed on December 13 that Hungary's MOL energy company has invited Gazprom to join the New Europe Transmission System (NETS), a proposal just launched by MOL to interconnect the gas transmission networks of at least seven Central and South-East European countries within an... MORE
NETS: JOINT GAS TRANSMISSION NETWORK PROPOSED IN CENTRAL AND SOUTHEASTERN EUROPE
The Hungarian energy company MOL is proposing the unification of gas transmission pipeline systems in Central and Southeastern Europe, within a new and independent regional gas transmission network. The existing systems are nationally owned and operated, mainly under state ownership. MOL is privately owned. The... MORE
THE EU COMMISSION BETWEEN MOL AND OMV: ANOTHER “SLEEPWALKING” CASE?
Italy’s ENI energy champion CEO Paolo Scaroni recently noted that the European Union was “sleepwalking” on energy policy. “It seems incredible that the EU, which debates and legislates every aspect of our existence, including the bends of cucumbers and curves of bananas, failed to spot... MORE
LEX MOL REFLECTS EUROPEAN RETHINKING ON ENERGY INVESTMENT REGIME
Overwhelmingly approved by the Hungarian parliament, the legislation known as “Lex MOL” [MOL law] is set to take effect after the presidential signature as a final formality. The law reacts to Austrian state-controlled energy champion OMV’s hostile takeover bid against MOL, Hungary’s largest economic entity,... MORE
LEX MOL AND THE VOLKSWAGEN RULING: COMPARING APPLES AND ORANGES
On October 23 the European Court of Justice (ECJ), the European Union’s highest court, overturned Germany’s Volkswagen law, which restricts the voting rights of that company’s shareholders to 20%, regardless of the size of the stake owned. The European Commission had initiated the case three... MORE
OMV VERSUS MOL: A TEST CASE FOR THE EU AND ITS ENERGY POLICY
The Austrian government and the state-controlled OMV energy champion have launched a campaign in European media and with EU authorities in Brussels for a hostile takeover of Hungary’s fully private-owned MOL energy champion. Members of the Austrian government, such as Economics Minister Martin Bartenstein and... MORE