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MOL: lifted all restrictions in gas supplies as supply crisis eases

30.1.2006 9:31
Autor: KBC/Patria

As Russian gas deliveries were reset to normal level in the second half of last week, MOL has decided to provide natural gas without any restrictions, the company said in a statement on Friday. MOL said that current gas delivery of 26 mcm from Russia and another 9 mcm via Austria puts the maximum capacity of the system to above 90 mcm a day. About 87 million cubic meters gas was consumed on Thursday, when average temperature was -10°C in Hungary, and was reduced to 85 mcm on Friday, when temperature was -8°C, and further to 81 mcm on Saturday at temperature of -6°C. It now seems that the supply crisis is over. Despite the easing, crisis energy ministries of the CEE4 countries, extended to Austria, Croatia and Slovenia, met in Budapest on Friday to discuss potential steps to avoid similar situations in the future. Although no details were announced from the meeting, parties reportedly discussed the possibility of building new LNG terminals and pipelines, and the potential acceleration of the Nabucco project. A wider support for the Hungarian and Croatian plan to build natural gas storage and transmission infrastructure in the Adriatic region could make it easier to obtain some funding from the EU, we believe. MOL, as the owner of the high-pressure gas pipeline system in Hungary, would benefit from such a deal.


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