MOL signs gas deal with Serbia

Oct 26, 2007 02:00 AM

Head executives from Serbia's public gas enterprise Srbijagas and Hungary's MOL Group signed a contract in Budapest.
Based on the deal, the Hungarian company will provide half to a full mm cm of gas for Serbia from its own sources, in case Russian supplies are insufficient.

Should weather conditions dictate the need for larger heating gas amounts this winter, in other words, should the 10 mm cm arriving from Russia not suffice, MOL is willing to, just as it did last year, help maintain Serbia's energy stability, the parties said at the signing ceremony.
"MOL understands the situation in Serbia and the importance of a secure energy supply, considering that Hungary uses a significant amount of natural gas as an energy source," Lajos Alacs, MOL business strategy and development executive officer, told in the Hungarian capital.

Source: Serbia & Montenegro Today
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