The publication reported that the deal is expected to be signed between the Hungarian Prime Minister Ferenc Gyurcsany and Russia’s first Deputy Prime Minister, Dmitry Medvedev, during the latter’s visit to Hungary.
Hungarian interest in the pipeline puts the Russian gas monopoly, Gazprom, in a position of strength to build its proposed GBP5 billion Souhtstream pipeline, which is being planned to bring gas from Russia across the Black Sea to Europe.
Mr Gyurcsany, as quoted by the Financial Times, said: It is in the interests of Hungary to have both pipelines crossing Hungarian territory. The Hungarian section of the pipeline will be owned by a 50-50 joint venture between the Hungarian government and Gazprom.
