Latest Articles about Central Europe
NABUCCO GAS PIPELINE PROJECT IS BACK ON TRACK
All players involved in the Nabucco gas pipeline project got their act together at a conference on September 14-15 in Budapest. The European Union demonstrated for the first time a hands-on commitment to the project. The Hungarian government announced its re-commitment after a year’s wavering.... MORE
ENERGY MARKET CONSOLIDATION VERSUS FOREIGN STATE TAKEOVERS IN CENTRAL EUROPE
In common with the Baltic states and Poland, which face the risk of being caught between Russian and German energy policies, Hungary is facing a similar two-front problem, albeit with country-specific differences. In Hungary’s case, Russia and Austria (with Germany in a lesser role) seem... MORE
AUSTRIA’S OMV VERSUS HUNGARY’S MOL: THE LESS EFFICIENT TARGETING THE MORE EFFICIENT
Austria’s national energy champion, OMV, persists with attempts to take over its Hungarian counterpart, MOL, even as OMV itself seems to drift into closer association with Russia. The Austrian government, the single largest shareholder in OMV -- 31.5% direct control plus some small stakes under... MORE
HUNGARY’S MOL ENERGY COMPANY GROWS IN CENTRAL EUROPE AND BEYOND
Hungary’s national energy company, MOL, is mounting an effective defense against a hostile takeover by its Austrian counterpart, OMV, which could lead to Russian takeover of Hungary’s energy sector (see EDM, July 24, 25). As part of its defense -- but also in the course... MORE
GAZPROM TAKEOVER IN HUNGARY LOOMS BEHIND POSSIBLE OMV TAKEOVER
Apart from the oil business (see EDM, July 24), Hungary’s gas transmission network is also at stake in the attempted takeover of the national energy company MOL by the Austrian counterpart OMV. And, as with the oil business, the gas transmission network may end up... MORE
AN AUSTRIAN BACK DOOR FOR RUSSIAN TAKEOVER OF HUNGARY’S ENERGY SECTOR? (Part One)
Austria’s OMV, the national energy champion, has blindsided its Hungarian counterpart, MOL, with a merger attempt that looks like a hostile takeover. MOL had to learn from the mass media in late June that OMV had suddenly increased its stake in MOL from 10% to... MORE
CASPIAN GAS PLENTIFUL NOW FOR NABUCCO PIPELINE PROJECT
Hungary’s government remains the weak link in the planned Nabucco pipeline for Caspian gas to Europe via Turkey, Bulgaria, Romania, Hungary, and Austria -- a project led by Austria’s OMV company. The European Union has assigned high-priority status to this project, but the Hungarian government... MORE
HUNGARY’S PRIME MINISTER IN MOSCOW GIVES NABUCCO ANOTHER CHANCE
For the moment at least, Hungary's Socialist Prime Minister Ferenc Gyurcsany is not abandoning the last line of defense against Gazprom's monopolization of pipeline routes to the European Union. That remaining defense is the EU's Nabucco project to pump Caspian gas via Turkey to Europe.... MORE
HUNGARY BREAKS RANKS WITH THE EU AND ITS NEIGHBORS ON THE NABUCCO PROJECT
Hungary’s Socialist-led government has apparently decided to support Gazprom’s Blue Stream project, through which Russia seeks to capture an ever-growing share of the European Union’s gas markets. Made public on March 12, the Hungarian government’s move could -- unless reversed by EU suasion -- kill... MORE
U.S. PROPOSAL TO BASE MISSILE DEFENSE SYSTEMS IN POLAND, CZECH REPUBLIC, RAISES ALARM IN MOSCOW
Last year was a disaster in terms of Russia’s relations with the West. In December 2006 Russian Foreign Minister Sergei Lavrov summed up this “not easy” year by insisting that the “legacy of the Cold War has not been removed” and scolded the Western press... MORE