The Government "views this development project as a matter of national strategy rather than as a business venture”, Mr Giró-Szász explained. Of the various positive effects that the project is expected to have on the national economy, the spokesman underlined that it should raise the GDP by 1% and 10.000 new jobs would be created during the course of construction. According to Hungarian law, the bilateral agreement must be ratified by Parliament before construction can commence.

The Hungarian Government also informed the European Union's Directorate General for Energy about plans for a bilateral agreement between Hungary and Russia on 26 November 2013 during discussions lasting a whole day. On 14 December, a notification was sent to the European Commission containing the full text of the agreement. Brussels did not indicate any problem with the proposed agreement within the 30-day deadline, meaning the Government was free to conclude the document, Mr Giro-Szász explained.

Source: kormany.hu