Hungary joins Russia's South Stream gas pipeline

MOSCOW, Feb 28 (Reuters) - Hungary formally signed on Thursday a deal to join Russian gas export monopoly Gazprom's (GAZP.MM: Quote, Profile, Research) 10 billion euros South Stream gas pipeline. The pipeline, which will be jointly built by Gazprom and Italy's ENI (ENI.MI: Quote, Profile, Research), will take Russian gas to southern Europe.

"Stable cooperation in the oil and gas sectors is a joint contribution by Russia and Hungary into Europe's energy security," Russian President Vladimir Putin said after the signing ceremony in the Kremlin.

(Reporting by Oleg Shchedrov, writing by Amie Ferris-Rotman)