Dow Jones: Hungary Dismisses Concerns about South Stream Participation

Hungary's state-owned energy group MVM Zrt. Tuesday dismissed reports that the country's participation in the South Stream natural gas pipeline is in peril.

Earlier, Russian daily Moscowskaya Novosti said that delays in Hungary are forcing OAO Gazprom to consider alternate routes and that the Russian gas giant is in talks to that effect with Croatia.

Hungary's government at the start of the year initiated the transfer of the 50% stake in the implementing company for the Hungarian stretch of the pipeline, from state-owned development bank MFB Zrt. to MVM. The process hasn't been completed.  MORE