FGSZ Natural Gas Transmission Closed Company Limited by Shares (FGSZ Ltd.) and Eustream a.s. signed a Memorandum of Understanding on 19 June 2009 with the aim to interconnect the Slovak and the Hungarian high pressure natural gas transmission grids under a common project.
Natural gas transmission is envisaged to commence at the beginning of 2013 via the bidirectional interconnecting pipeline to be constructed with the total length of 115 km (from which the Hungarian section is 94 km, whilst the Slovak section covers 21km) and the projected annual capacity of 5 Bcm. This transmission capacity is to correspond to the actual market demand in the future. In order to analyze the market demand FGSZ Ltd. and Eustream a.s. is launching a common Open Season process to offer for sale the capacity of the Interconnector.
In this first phase interested partners have the possibility to submit non-binding bids, as a result of which our companies will get preliminary information about the actual demand of the natural gas market players, by the end of 2009. Afterwards, presumably in the first half of 2010 a binding Open Season process will also be completed at the end of which the respective capacity booking contracts will be concluded, as a final step. For further details please visit our link here.