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Hungary to Nationalize Energy Industry

Politics ♦ Published: August 29, 2012; 17:34 ♦ (Vindobona)

Viktor Orban´s government plans to acquire the Hungarian subsidiary of German eon.

Hungary to Nationalize Energy Industry / Picture: © Vindobona.org

Orban´s government wants to take control over Hungary´s energy market. After the Hungarian state purchased a 21.5% stake in MOL from Russian Surgutneftegaz in May 2011, the Hungarian subsidiary of German eon should be nationalized too.

The Hungarian state has secured the right to repurchase the gas storage segment and the gas trading segment of eon Hungary. The right may be…