Memorandum of Understanding on the implementation of the Hungarian-Slovakian interconnecting pipeline.
Continuing the establishment of international relationships in order
to increase the security of gas supply the FGSZ .Ltd. and Eustream, two
companies of the Hungarian and Slovakian gas transmission networks,
signed the Memorandum of Understanding in Siófok regarding the
interconnection of the natural gas transmission systems of the two
The planned 100-km-long pipeline will connect Veľký Krtíš on the
Slovak side with Vecsés in Hungary. The project costs as well as the
transmitted gas volumes will depend on real market demands.
“By creating the new interconnection of the existing pipeline system
in our region, we would like to help increase the security of gas
supplies for Hungary, and the liquidity of the market in Central Europe”
- said Dr. János Zsuga, CEO of FGSZ Ltd.
The project has been officially implemented into the European
Economic Recovery Plan set by the European Commission in December 2008.
Increasing concerns about securing reliable gas supplies are one of the
reasons behind establishing a program to aid economic recovery by
granting financial assistance to projects in the field of energy.
Through the European Economic Plan for Recovery, the European
Commission plans to allocate the financial aid of approx. EUR 2.4
billion for gas and electricity infrastructure projects in the period
2009-2010. As a part of this move EUR 30 million has been earmarked by
the Commission for the implementation of the Slovak-Hungarian
The supported projects should contribute to the security and
diversification of sources of energy, routes and supplies as well as to
the integration of the internal energy market, in particular concerning