Azerbaijan to start natural gas exports to Hungary from end of 2023

ECONOMICS  03 June 2023 - 10:35

President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf met with the CEO of Hungary's MVM Group Károly Mátrai.

SOCAR told Report that bilateral and multilateral cooperation between Azerbaijan and Hungary is successfully developing in various areas, including in the energy sector. The sides discussed Azerbaijan's strategic role in ensuring energy security in Europe. In this regard, they also discussed the importance of the expansion of the Southern Gas Corridor and the work done for the supply of additional volumes of gas to Europe.

Prospects for cooperation in natural gas trade, liquefied natural gas (LNG) supply, and use of gas storage facilities were discussed as well as other topics of mutual interest.

At the end of the meeting SOCAR and MVM CEEnergy Zrt., the largest wholesale natural gas trader in Hungary, signed a contract on the sale of 100 million cubic meters of natural gas. Deliveries of the contracted volumes of gas are planned to start in the 4th quarter of this year.

Caliber.Az