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E.ON: Hungary Gas Supply Secure Despite Russia/Ukraine Spat

E.ON: Hungary Gas Supply Secure Despite Russia/Ukraine Spat
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Παρ, 8 Φεβρουαρίου 2008 - 06:34
E.On Foldgaz Zrt., the Hungarian natural gas trading unit of Germany's E.ON AG (EON) said Friday that Russia's gas dispute with Ukraine won't affect Hungary's imports from Russia.
E.On Foldgaz Zrt., the Hungarian natural gas trading unit of Germany's E.ON AG (EON) said Friday that Russia's gas dispute with Ukraine won't affect Hungary's imports from Russia.

"E.ON Foldgaz is currently receiving its scheduled deliveries of Russian gas," said Klaus G. Hammer, chairman of the board of the E.ON Foldgaz.

"Thanks to mild winter temperatures, we have a comfortable supply situation, and our five storage facilities are well stocked, including 200 million cubic meters for the strategic reserve belonging to the Hungarian Hydrocarbon Stockpiling Association," Hammer added.

E.ON Foldgaz's supply portfolio also includes Western European sources.

Even if supplies from the East decrease by half, the company will be able to supply customers by doubling its deliveries from Western sources and increasing storage withdrawal, Hammer said.

E.ON Foldgaz Storage has extended its storage capacities by 200 million cubic meters last autumn and will increase its capacities by a further 600 million until the beginning of the 2009 heating season.

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