Foundation Stone Laying

During 2021, a great deal of preparatory work, planning and procurement were carried out for the Aquamarine Project, resulting in the start of construction works in spring 2022. This milestone was celebrated by our Company with a foundation stone laying on 18 March 2022.

Speaking at the ceremony, Ákos Kriston, Chairman and CEO of Hungarian Gas Storage Ltd, explained that the laying of this foundation stone marks another milestone in the many years of developing the Kardoskút facility. The establishment of the hydrogen technology system offers an opportunity to save jobs, and by embarking on hydrogen-based energy storage, we will get a long-term vision for the future.

Szabolcs I. Ferencz, Chairman and CEO of the Natural Gas Transmission Company, stressed that the goal is to be able to transmit hydrogen blended natural gas on the Hungarian natural gas network, thus contributing to the country's energy and climate goals.

Zsolt Bertalan, Chief Technology Innovation Officer at MVM Group highlighted that the MVM Group aims at becoming a key player in carbon-free hydrogen production by 2030.

Prof. dr. László Palkovics, Minister of Innovation and Technology, expressed in his speech that Hungary has outstanding potential in hydrogen storage. Our country's energy demand is constantly expanding, therefore this project is a milestone that could seriously shape our future.

The Aquamarine Project will enter its construction stage in May 2022, following which a test operation is expected to start early next year.