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The Hungarian government, on September 11, agreed to sell its Algyö gas depot, located in the south of the country, to private energy company MOL for about 150 billion forints (€500m).

The depot, says Hungarian daily Népszabadság was built, thanks to a 2010 loan of €200m from the European Bank for Reconstruction and Development (EBRD), with the aim of reinforcing energy independence in the country and in Central Europe.

The contract is scheduled to be signed on September 30, 2013, notes the paper — the same day on which Germany energy firm E.ON's gas businesses in Hungary are to be bought out by MVM, Hungary's state owned electric utility.