Miller Looks for Hungarian Support

Gazprom chief executive Alexei Miller held talks Friday with Hungarian Finance Minister Janos Veres in Moscow as the gas exporter seeks partners for a new pipeline to Central Europe.

Gazprom is adding partners for its South Stream pipeline, which will cross the Black Sea to Bulgaria and make its way across the Balkans to Western Europe. Gazprom signed pipeline agreements with Bulgaria and Serbia last month.

The pipeline most likely will pass through Hungary to reach gas storage facilities near Vienna owned jointly by Gazprom and Austrian oil company OMV. Gazprom, which supplies about 65 percent of Hungary's gas imports, delivered 7.5 billion cubic meters to the country last year.

Meanwhile, E.On's Hungarian unit said Friday that gas storage facilities there were well stocked and that supply would not be threatened even if there were a 50 percent reduction in flow from Russia.