Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Wednesday, July 18, 2018

Hungary seeks alternatives for gas supply

Prime Minister Viktor Orban

Hungary is considering Azerbaijan as an alternative gas supplier after Russia announced it was shutting down the South Stream Gas line, the U.S. - Azerbaijan Chamber of Commerce said on Wednesday.

Prime Minister Viktor Orban said Hungary and Azerbaijan share excellent relations.

"Hungary is considering various options after the announcement of the closure of Russian gas pipeline project 'South Stream,'" Orban told Bloomberg News.

Russian officials said the project was canceled because the Bulgarian government did not provide construction permits. Russia will pursue Turkey as a transition country.

In response to the news, Hungarian Foreign Minister Peter Siyyarto encouraged the search for alternatives, including the supply from Azerbaijan and the Shah Deniz Project to be utilized by Central Europe.

While the foreign minister said that the Azerbaijan supply was a viable option, he also stated that other options should be explored.

Organizations in this Story

United States - Azerbaijan Chamber of Commerce

Want to get notified whenever we write about United States - Azerbaijan Chamber of Commerce ?
Next time we write about United States - Azerbaijan Chamber of Commerce, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.