Gazprom CEO in Budapest

A preliminary agreement was signed yesterday in Budapest by Hungarian oil company Mol and the German subsidiary of Russian Gazprom, ZMB GmbH, to set up commercial gas storage depots. Visiting Budapest, Gazprom CEO Aleksei Miller will have talks today with Prime Minister Ferenc Gyurcsány and János Kóka, Minister for Economy. He will also have talks with Mol CEO Zsolt Hernádi about gas storage and gas transit in Hungary and cooperation between Mol and Gazprom in the oil business. The Hungarian oil company is in an urgent need to find a target for its acquisition plans as it could not buy up Russian Udmurtneft, which was sold to Chinese Sinopec yesterday. Gazprom might help Mol in this search for new acquisition targets. VGO