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Instead, he suggested that Hungary would support the extension of Blue Stream.
We want to be the biggest energy company in the world,” Alexander Medvedev, Gazprom's deputy head, has said of his company's modest ambition.
If power is measured by the fear instilled in others—as many Russians believe—he is certainly winning.
The Soviet Union relied on its military machine for geopolitical power: its oil and gas were just a way to pay for it.
Gazprom, Russia's energy giant, cherished by Mr Putin as a “powerful lever of economic and political influence in the world”, has long-term supply contracts with most European countries, including France, Germany, Italy and Austria.
It also has direct access to these countries' domestic markets.
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That would compete directly with Europe's own plan to build a pipeline called Nabucco from Turkey to Austria.