icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Hungary and Russia sign South Stream pipeline deal

Hungary has become the latest partner to join Russia in the multibillion-dollar South Stream pipeline project. Hungarian Prime Minister and Russia's President signed the major deal at a meeting in Moscow on Thursday.

Other countries already involved in South Stream include Italy and Bulgaria and most recently, Serbia. 

The pipeline will link Russia to the EU, bypassing Ukraine, and running from Russia's Black Sea coast under the sea to Bulgaria. From there it will branch off to different destinations in the European Union, carrying 30 billion cubic meters of gas a year.
The Hungarian section will be built by a 50:50 joint venture with Gazprom – at a cost of $US two billion. The project also includes underground gas storage in Hungary.

Hungary will receive not only gas but also transit fees. From there, the South Stream pipeline will continue to Austria.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.