Gazprom’s Headquarters today has hosted a working meeting between Alexey Miller, Chairman of Gazprom’s Management Committee and Zsolt Hernadi, Chairman – Chief Executive Officer of the Hungarian oil & gas company MOL.

The parties pondered on further cooperation deepening in hydrocarbon extraction and Russian natural gas transit across Hungary to European countries.

Additionally, the parties looked into joint implementation of projects covering construction of new and upgrading of existing underground gas storage facilities in Hungary.

Alexey Miller and Zsolt Hernadi agreed to conduct the next round of the talks in July.

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With first deliveries launched in 1975, some 165.4 bcm of Russian natural gas has been piped to Hungary over a 30-year period.

Russia supplies about 80 per cent of Hungary’s total natural gas imports. Over 2005 Gazprom provided Hungary with 9 bcm of gas.

Founded in 1991 on the platform of the Hungarian Oil and Gas Trust (OKGT), MOL is engaged in exploration, extraction, transmission, storage, distribution and marketing of oil and gas as well as operation of a 5.2 thousand km long gas pipeline network. The company controls more than 440 filling stations in Hungary, Slovakia and Romania.