Azerbaijan and Hungary signed new contract for gas supply

Azerbaijani SOCAR and Hungarian MVM Ceenergy concluded a contract for the supply of Azerbaijani gas to Hungary in 2023.

President of the State Oil Company of the Azerbaijan Republic (SOCAR) Rovshan Najaf met with the chief executive director of the Hungarian company “MVM Group” Karoli Matrai.

The meeting emphasized that bilateral and multilateral cooperation between Azerbaijan and Hungary is developing successfully in various directions, including in the energy industry. The strategic role of Azerbaijan was noted in ensuring the energy security of Europe, in particular, it was said about the importance of expanding the southern gas corridor and the work done in connection with the supply of additional gas volumes to Europe.

As part of the meeting, the importance of commissioning a gas interconnector Greece-Bolgaria, signed in December last year in Bucharest, “Agreement on Strategic Partnership in the Field of Development and Transfer of Green Energy between the Governments of the Azerbaijan Republic, Georgia, Romania and Hungary”, and Also signed in April of this year, a memorandum of mutual understanding between the operators of transport systems of an improved network of transmission of data from Bulgaria, Romania, Hungary and Slovakia and SOCAR, called the “ring of solidarity”.

The prospects for cooperation in the field of natural gas trade, the supplies of liquefied natural gas (LNG), the use of gas storages, an exchange of views on other topics representing mutual interest.

In the conclusion of the meeting between SOCAR and the largest Hungarian wholesale company for natural gas “MVM Ceenergy ZRT.” An agreement was signed on the sale of natural gas in the amount of 100 million cubic meters. The start of the supply of gas volumes specified in the contract is provided for in the 4th quarter of the current year.