South Stream Hungary FID to Be Taken by End of the Month

Gazprom has announced that a final investment decision (FID) on the Hungarian branch of the South Stream pipeline project will be taken by the end of this month.

The announcement was made following a working meeting between a Gazprom delegation, led by Chairman of Gazprom's Management Committee Alexey Miller, and Hungarian officials. As part of the working visit to Budapest, the Gazprom delegation also met with Hungarian Prime Minister Viktor Orban.

Gazprom's statement also says that the planning of South Stream Hungary is on schedule. Previously, media reports have questioned Hungary's future in the South Stream project, with investment issues on the Hungarian side causing delays.

In August, Croatian pipeline operator Plinacro said that it was in talks with Gazprom, which centred around Croatia possibly becoming a route country for the South Stream project. If chosen, Croatia would act as an alternative route country for South Stream.

However, Gazprom has never confirmed the reports that Croatia could or would replace Hungary as a South Stream transit country.