OMRI DAILY DIGEST
No. 210, 30 October 1996

NEW GAS PIPELINE LINKS HUNGARY, AUSTRIA. Hungarian Prime Minister Gyula
Horn and Austrian Chancellor Franz Vranitzky on 29 October opened a 117
km natural gas pipeline between Gyor in northwest Hungary and
Baumgarten, Austria, Hungarian media reported. Hungarians believe that
the new pipeline will decrease Hungary's dependence on Russian energy
sources. The investment cost the Hungarian government and the Hungarian
Oil and Gas Company 4 billion forints ($69 million). On 20 October, a
pipeline was also completed between Slovakia and Baumgarten. -- Zsofia
Szilagyi

TWO HUNGARIAN NATIONAL BANK VICE PRESIDENTS DISMISSED. Two National Bank
(MNB) vice presidents were dismissed over a contractual error that cost
the MNB 1.5 billion forints ($9.5 million), Hungarian media reported on
30 October. According to the final report of an investigation into the
1992 agreement, Sandor Czirjak and Frigyes Harshegyi--in a contract on
exchange rate guarantees with the Austrian bank Creditanstalt--made
erroneous calculations. -- Zsofia Szilagyi


[As of 12:00 CET]

Compiled by Valentina Huber