The construction of the pipeline and the gas storage depot could make Hungary a major distribution centre for gas in Europe, with deliveries destined for the south and southwest, Mr Koka said. The investments would also make Hungary’s gas supply more secure, he added.
Extending the Blue Stream pipeline to reach Europe would cost around $5 billion, and could be completed within five years. Mr Koka added that no decision has been made yet on the exact location of the pipeline or the gas storage depot. However, he confirmed that Hungary still supports the construction of the Nabucco pipeline, which will deliver gas from Iran, as this new plan would mean another source of gas.
The minister also said his government is still interested in building a liquefied natural gas storage depot and pipeline in Croatia.