Gulf Oil and Gas accountACCOUNT

Gazprom, MFB Create South Stream Hungary Zrt JV CO

Source: www.gulfoilandgas.com 1/29/2010, Location: Asia

Today in Budapest (Hungary) in the course of the Russian-Hungarian Intergovernmental commission meeting in the presence of First Deputy Prime Minister of the Russian Federation Viktor Zubkov and Hungarian Prime Minister Gordon Bajnai the procedure of signing the incorporation documents of the South Stream Hungary Zrt. joint engineering company (JEC) was completed.

The company is created on an equal basis by Gazprom and MFB – Hungarian Development Bank for the purpose of implementing the South Stream project in Hungary. The registration procedure will start simultaneously with the incorporation documents signing.

South Stream Hungary Zrt. will organize the preparation of a feasibility study of the Hungarian segment of South Stream, as well as finance, build and manage the gas pipeline in Hungary.

“For all the participants of the South Stream project the entry of Hungary into this large-scale joint endeavor is a markedly important development. We consider it to be another proof that our partners have a sophisticated understanding of this mutually beneficial trans-European infrastructural project. We have no doubt whatsoever that South Stream will serve as a guarantee of security and flexibility of Russian natural gas supplies to European markets,” said Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee.

“Today’s signing of the article of association of the joint venture company, which plays such a major role in the implementation of the Hungarian section of South Stream, is the result of constructive negotiations by the two cooperating parties. In line with the objectives stated by the Hungarian Government, MFB shall continue to fulfil its duty as Gazprom’s partner in successfully completing the South Stream gas pipeline, a project of substantial Hungarian, and I believe European significance,” declared MFB CEO Janos Eros.

Pipe Lines Installations News in Russia >>

China >>  2/14/2019 - Fluor Corporation (FLR) was awarded the engineering, procurement and construction management contract for Valvoline’s new blending and packaging facil...
Russia >>  2/14/2019 - Alexey Miller, Chairman of the Gazprom Management Committee, and Yan Novikov, Chairman of the Management Board, Director General of the Almaz-Antey Co...

Russia >>  2/1/2019 - PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that Arctic LNG 2 (the “Project”) and Siemens signed a contract on compressor equipment for thr...
Azerbaijan >>  1/28/2019 - Representatives of SOCAR headed by the President Rovnag Abdullayev held a meeting in Baku with a delegation from Kazakhstan, led by Alik Aydarbayev, C...

Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

Related Articles: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 |

Oil & Gas Projects in Russia >>

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.