Gazprom and the state-owned Hungarian Development Bank signed a deal Friday setting up a company to develop Hungary's part of the South Stream gas pipeline project.
The agreement was signed by Gazprom deputy chief Alexander Medvedev and Hungarian Development Bank chief executive Janos Eros.
"We have no doubt that South Stream will become an extra safeguard for the reliability and flexibility for Russian gas supply to European markets," Medvedev said in a statement posted on Gazprom’s web site. Click here to read more.
