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MOL May Seek Partner in Gas Division

Hungarian oil company MOL Rt is expecting bids for its gas companies by the end of the month, but the company is also looking for a partnership to ensure its independence on the quickly consolidating European gas market, MOL strategic and business development director Zoltan Aldott said.

Aldott said that the sale would be completed by the end of this year or the beginning of 2005.

Aldott declined to specify the size of the stakes up for sale, but noted that changes to regulations now made it economically viable for MOL to retain partial ownership of the gas division.

(BBJ 27.viii.04)

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