Itar-Tass cited Mr Janos Veres finance minister of Hungary as saying that the construction of the South Stream gas pipeline would facilitate Hungary’ s energy security.

He said that Hungary was committed to diversification of routes and sources to receive gas.

Mr Viktor Zubkov first vice PM of Russian said that the talks had focused on the gas crisis in the beginning of January. He said that “Ukraine’s monopoly as Russian gas Transit County allows us to say gas supplies to Europe should be diversified. Risks may be different, including terrorist and technogenic ones. It is necessary to build the South Stream, the North Stream and Nabucco.”

He added that Russia did not create obstacles to alternative projects. He also stressed the importance of building big gas storage facilities.

Mr Zubkov said that “It is important all three gas pipelines to have real raw material. Russia has considerable gas sources for the North and South Stream. The Shtokman and Yamal gas deposits give 1,000 billion cubic meters of gas in order to ensure stable supplies to Europe.”

He emphasized that Russia did not consider the Nabucco project competitive. Our project has all conditions for realizing it we have resources, the market in Europe and experience in carrying out such difficult technical projects.”

(Sourced from Itar-Tass)