FM: Russian gas pipeline operator to relocate from Netherlands to Hungary

The company South Stream Transport B.V., operator of the Russian gas pipeline “TurkStream,” will move its jurisdiction from the Netherlands to Hungary, Minister of Foreign Affairs of Hungary, Peter Szijjarto, announced.

Szijjártó said in a Facebook post that the company’s relocation will allow it to continue operating without obstacles from sanctions, Caliber.Az reports.

FM also noted that Russia continues to receive gas payments from Hungary free of any restrictions.

The Dutch company South Stream Transport B.V. is responsible for operating the TurkStream gas pipeline system, which transports Russian natural gas across the Black Sea to Turkey and Southern Europe.

On December 8, a court in Amsterdam seized the assets of Gazprom’s Dutch subsidiary and TurkStream operator South Stream Transport B.V.

This action was requested by Ukrainian energy company DTEK Krymenergo, owned by Ukraine’s wealthiest businessman, Rinat Akhmetov. Earlier, in July, the court had frozen SST’s funds and assets at ABN Amro Bank NV.

By Jeyhun Aghazada