MOL to offer its gas underground deposit for South Stream

The Hungarian MOL company seeks any opportunity to participate in the SouthStream pipeline project. Company representatives plan to offer their underground gas deposit with a total volume of one billion meters for the future pipeline, RBK Daily reads.

Experts argue that this initiative reflects the wish of the company to enter the consortium which builds the pipeline. Thus, the reservoir can as well be considered an entrance ticket. In February, Hungary joined the consortium and signed an agreement which rules the setting up of a mixed enterprise between Budapest and Moscow to build the Hungarian segment of the pipeline.

Metropol consultant Aleksandr Nazarov says that MOL can offer its deposit as a personal contribution to the gas exchange program and it might control the gas flux. The consortium, if it accepts the proposal might save up important funds. In the same time, MOL’s alternative option is to sell the underground reservoir.

The price of such a reservoir could amount to some 190-250 million dollars and Gazprom might be the buyer interested to purchase it. However, Gazprom might also choose to rent it but the reservoir might prove to be a golden mine in Europe, RBK Daily informs.