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Slovak-Hungarian Interconnection: Eustream is ready to invest

BratislavaEustream, the biggest transporter of natural gas in the European Union, has completed the re-launched binding phase of the Open Season process for the planned gas pipeline interconnection between the Slovak and Hungarian networks.

Applicants for transmission capacities had the opportunity to submit their binding bids for capacities by 8 December 2010. Companies from five countries took part in this round of the binding phase of the Open Season.
The greatest interest of the market in transmission capacities was registered for the first five years, with peak booked capacity at a level of over 4 million cubic meters per day. Capacities were booked for a period of ten years. Although market interest is at this time focused on the direction of transmission from Slovakia to Hungary, the pipeline project is designed as bi-directional.
"We can say that the project of interconnection between the gas pipeline systems of the Slovak Republic and Hungary is viable and economically feasible. In addition, it currently has strong political support in both countries and in the European Commission. We are convinced that it will be the cornerstone of a North-South corridor for the whole V4 region and that it will significantly contribute to European security of supply.” emphasized Chairman of the Board of Directors of Eustream, Antoine Jourdain.
The strategic importance of the project for Slovakia lies in ensuring access to new sources of gas supplies in the form of a "bridgehead" to the planned gas pipelines Nabucco and South Stream. Eustream is ready to proceed with its immediate implementation.
At the same time, Eustream together with the Polish gas transmission system operator GAZ- SYSTEM recently signed a Letter of Intent in relation to another element of the North-South corridor. Both companies have undertaken to analyse options for the interconnection of the pipelines they operate.
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