Gazprom, MFB Create South Stream Hungary Joint Venture

March 2010 Vol. 237 No. 3

Recently in Budapest, First Deputy Prime Minister of the Russian Federation Viktor Zubkov and Hungarian Prime Minister Gordon Bajnai signed documents incorporating the South Stream Hungary Zrt joint engineering company.

Gazprom and MFB – Hungarian Development Bank – hold equal shares in the new company, which will implement the South Stream project in Hungary.

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

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