Latest Articles about Central Europe
MOL, Gazprom to Build Gas Storage Site in Hungary Independent of South Stream
On March 10 in Moscow, Hungary's privately-owned MOL oil and gas company signed an agreement with Gazprom Export in Moscow to jointly establish a gas storage company in Hungary. Prime Ministers Vladimir Putin and Ferenc Gyurcsany witnessed the signing. This project is separate from and,... MORE
Hungary’s MOL Driving Efforts to Interconnect Gas Markets
On March 3 the Hungarian gas transmission operator FGSZ—a subsidiary of MOL, the Hungarian oil and gas company—signed a contract with Croatia's state pipeline operator Plinacro to build an interconnector gas pipeline between the two countries. The project fits within MOL's strategy of promoting construction... MORE
A Window of Opportunity for the Nabucco Project at Budapest Meeting
The Nabucco gas transport project, whose stakeholders and institutional backers are holding a high-level meeting in Budapest on January 26 and 27, faces a unique window of opportunity in a reshaped strategic context (see EDM, January 6, 22). The meeting is being held in the... MORE
Hungary to Host Nabucco Summit in a Reshaped Strategic Context
Hungary is hosting a high-level meeting of active and potential participants in the Nabucco gas transport project on January 26 and 27. Top officials of supplier, transit, and consumer countries; international financial institutions; the European Union; and the United States are expected to participate (MTI,... MORE
Hungary Doubling Efforts for Nabucco Ahead of Budapest Summit
The Hungarian government and the private MOL energy company are doubling their efforts to help launch the Nabucco gas project on schedule. Given Hungary’s 80 percent dependence on Russian gas, even the oft-wavering Socialist Party has joined the consensus view that supply diversification through Nabucco... MORE
Polish, Georgian Presidents’ Motorcade Shot at from South Ossetia
At dusk on November 23, machine-gun fire from the direction of a Russian checkpoint forced Presidents Mikheil Saakashvili of Georgia and Lech Kaczynski of Poland to cut short a visit with Georgian refugees from South Ossetia. By most accounts, three bursts were fired into the... MORE
HUNGARY’S MOL WINS FUEL MARKET SHARE IN CENTRAL EUROPE
Hungary’s MOL energy company is advancing its organic development and regional consolidation in the gas and oil product sectors. The privately owned MOL is now free to focus on those strategies after defeating a hostile takeover attempt from Austria’s partly state-controlled OMV conglomerate. OMV finally... MORE
HUNGARY EYES IRANIAN GAS IN EFFORTS TO RESUSCITATE NABUCCO
With Brussels lacking a policy and Washington in the grip of two mutually contradictory policies on European gas supplies, Hungary has taken the lead in efforts to resuscitate the Nabucco project for Caspian gas to Europe. The Hungarian government, parliamentary opposition, and privately owned MOL... MORE
AUSTRIA’S OMV GIVES UP HOSTILE TAKEOVER BATTLE AGAINST HUNGARY’S MOL
On August 6 the board of directors of Austria’s OMV energy conglomerate decided to abandon its hostile takeover attempt against the Hungarian counterpart MOL (OMV press release, August 6; Der Standard, August 7). The European Commission’s negative assessment of a possible takeover, as well as... MORE
A POLITICAL SUMMIT MIGHT RESUSCITATE THE NABUCCO PROJECT
The European Union’s Nabucco pipeline project for transporting Caspian gas to Europe continues to experience false starts and outright setbacks. The impasse seems to justify the Hungarian proposal to hold a summit of the Nabucco consortium countries and the relevant gas producer countries, with the... MORE