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ECONOMICS
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Azerbaijan, Hungary discuss gas supplies

10 July 2023 17:02

Azerbaijani Energy Minister Parviz Shahbazov has met with Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó.

At the meeting, the ministers discussed the supply of Azerbaijani gas to Hungary, Caliber.Az reports, citing Shahbazov’s Twitter account.

"We held fruitful talks with Péter Szijjártó on our activities on the Ring of Solidarity, the Caspian-EU Green Energy Corridor and gas supplies from Azerbaijan to Hungary by the end of the year," the minister tweeted.

Sofia hosted a ceremony of signing the Memorandum of Understanding on the promotion of cooperation between Bulgartransgaz (Bulgaria), Transgaz (Romania), FGSZ (Hungary), Eustream (Slovakia), and the State Oil Company of Azerbaijan Republic (SOCAR) on April 25.

The Memorandum of Understanding sets out directions of cooperation between SOCAR and four distribution system operators for the supply of additional gas from Azerbaijan to Europe. The additional gas will be supplied through the upgraded transmission network systems of Bulgaria, Romania, Hungary and Slovakia called the "Solidarity Ring".

Azerbaijan started gas supplies to Europe via the Southern Gas Corridor on December 31, 2020. The initial capacity of the Trans-Adriatic Gas Pipeline (TAP), which is the European section of the corridor, is 10 billion cubic meters per year with the possibility of expansion to 20 billion cubic meters.

Caliber.Az
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