European Commission welcomes gas flow agreement between Ukraine and Hungary

European Commission welcomes gas flow agreement between Ukraine and Hungary

The FINANCIAL -- The European Commission has welcomed an agreement signed by gas network operators in Hungary and Ukraine covering flows of natural gas both ways across the border, according to EU Neighbourhood Info.

A press release said this was as an important step to connecting Energy Community countries such as Ukraine to the EU's internal energy market and to boost energy security for the EU's eastern neighbour. The agreement is in line with recently agreed rules for cross-border cooperation between gas network operators known as the Interoperability Network Code.

The agreement will allow for the smooth flow of gas at the cross-border point between Ukraine and Hungary. It also serves as the legal basis for Gazprom to cede the network operation activities it is still performing at Ukraine’s borders with the EU to Ukrtransgaz. EU and recently adopted Ukrainian gas market rules call for dedicated, unbundled network operators in the gas sector to assume all activities related to operating their system.

 

Author: Temur Tatishvili