Hungarian energy group MVM includes Romania in its expansion strategy
Romania and the Czech Republic, apart from Western Balkans, are among countries with potential acquisition targets for Hungary’s state-run energy group MVM, the company’s Chairman and CEO Gyorgy Kobor said in a Bloomberg interview.
Romania Insider · Journalist
· Updated · 1 min read
Romania and the Czech Republic, apart from Western Balkans, are among countries with potential acquisition targets for Hungary’s state-run energy group MVM, the company’s Chairman and CEO Gyorgy Kobor said in a Bloomberg interview.
However, Kobor declined to comment on a report that MVM was among the bidders for CEZ’s Romanian assets.
However, Romania’s Black Sea project could be a valuable way for MVM to diversify Hungary’s energy supply, the Hungarian official said. The company signed a long-term contract for 3 billion cubic meters of natural gas annually and is awaiting the start of production there.
The company, which owns assets ranging from nuclear energy to natural gas storage, helps prime minister Viktor Orban’s Government develop energy links from the Adriatic to the Black Sea. New projects include the TurkStream gas pipeline backed by Russia and planned partnerships in Serbia and the Czech Republic.
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