Azerbaijan, Hungary unveil new steps in energy partnership

Azerbaijani Energy Minister Parviz Shahbazov and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó have met during the Baku Energy Forum.

The sides discussed the expansion of partnership in the oil and gas sector and the implementation of the Caspian Sea-Black Sea-Europe green energy corridor project, Report informs.

The discussions were held during a meeting within the Baku Energy Forum.

During the meeting, the sides expressed satisfaction with the results of the recent meeting of the ministers of Azerbaijan, Romania, Georgia and Hungary and the process of creating a joint venture. The further steps on other important components of the project implementation were also agreed upon.

The cooperation issues related to hydrocarbons and “green energy” were discussed at a meeting between Shahbazov and Hungarian Minister of Energy Csaba Lantos.

The importance of Azerbaijani gas supplies to the Hungarian market, prospects for cooperation in oil and gas projects with the Hungarian MOL energy company and MVM CEEnergy Zrt biggest natural gas wholesale company were discussed.

The governments of Azerbaijan, Hungary, Georgia and Romania signed an agreement on a strategic partnership in the development and supply of green energy in Bucharest on December 17, 2022.

It envisages laying a cable through the Black Sea to transmit electricity with a capacity of one GW.

The line will be 1,195 kilometres long and is designed to supply electricity produced in Azerbaijan via Georgia and the Black Sea to Romania for further transportation to Hungary and the rest part of Europe.