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MGYOY Mol Magyar Olay Es Gazipari Rt (PK)

3.654
-0.026 (-0.71%)
Last Updated: 18:13:16
Delayed by 15 minutes
Name Symbol Market Type
Mol Magyar Olay Es Gazipari Rt (PK) USOTC:MGYOY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.026 -0.71% 3.654 3.61 3.69 3.665 3.635 3.665 10,784 18:13:16

Hungary's MOL, Russia's Gazprom Terminate Gas Storage JV

15/02/2012 1:36pm

Dow Jones News


Mol Magyar Olay Es Gazip... (PK) (USOTC:MGYOY)
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Hungarian energy firm MOL Nyrt (MOL.BU) and Russian gas company OAO Gazprom (GZPFY) have terminated a joint venture set up for an investment in Hungary, MOL told state news agency MTI Wednesday.

The two companies teamed up in 2009 to explore the possibility of creating a natural gas storage facility. However, the feasibility study of the project proved discouraging so the firms decided to abandon the investment and terminated the joint venture, MOL said.

The companies each had a 50% share in the project firm Pusztafoldvar Gaztarolo Zrt. The storage site was planned to accommodate 1.3 billion cubic meters of natural gas with a daily output capacity of 15 million cubic meters.

-By Gergo Racz, Dow Jones Newswires, +361-267-0622; gergo.racz@dowjones.com

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