Bilateral commission reviews ways to further expand Azerbaijan-Hungary energy ties PHOTO

During the fifth meeting of the Azerbaijani-Hungarian Intergovernmental Commission on Economic Cooperation in the energy sector, participants exchanged views on ways to further expand collaboration in the energy field.

The summit conveyed in an online format on September 3, Caliber.Az reports, citing the Ministry of Energy.

During the session, Zaur Mammadov, the Ministry's Chief of Staff and Co-Chair of the commission, stated that cooperation between Azerbaijan and Hungary in the oil and gas sector has evolved into a mutually beneficial partnership and praised the interaction between the energy companies of both countries.

He also underscored Hungary’s active participation in the meetings of the Advisory Councils on the Southern Gas Corridor, its involvement in Baku Energy Week, and its support for Azerbaijan’s energy initiatives within the framework of COP29.

Mammadov also addressed issues arising from cooperation among Azerbaijan, Georgia, Hungary, and Romania in developing and transmitting green energy, emphasizing the importance of the Caspian-Black Sea-Europe Green Energy Corridor project.

The Hungarian Co-Chair of the Working Group is Isabella Feierabend, the Head of the Energy and Climate Diplomacy Department at Hungary’s Ministry of Foreign Affairs and Trade. She underlined the importance of expanding cooperation with Azerbaijan in the oil and gas sector and enhancing energy efficiency.

The first meeting of the bilateral commission dedicated to deepening the countries' energy cooperation took place in February 2020 in Budapest.

Bound by energy interests

Baku and Budapest work on a vast range of energy projects together. The Black Sea Submarine Cable Project, also known as the Caspian Sea–European Union Green Energy Corridor, is a significant initiative to generate green energy from renewable sources in Azerbaijan and export the power to Europe via a subsea cable under the Black Sea.

Hungary’s Prime Minister Viktor Orbán was one of the co-signatories on the ‘Strategic Partnership Agreement’ on December 17, 2022 when the leaders of Azerbaijan, Georgia and Romania committed to working together on the implementation of the Caspian-Black Sea-Europe Green Energy Corridor project.

In June 2025, Hungarian state-owned energy group MVM has secured a 5% stake in the next phase of Azerbaijan’s flagship Shah Deniz gas field, joining a $2.9 billion development of the field led by BP. The move marks a significant expansion of Hungary’s presence in the Caspian energy sector, where oil and gas company MOL is already active.

The Southern Gas Corridor, which transports natural gas from the Caspian basin to Europe, is made up of several pipelines. While none of them flow through Hungarian territory directly, the country continues to actively support the further capacity expansion of the Southern Gas Corridor as the country is interested in diversifying Europe's natural gas supply routes and sources.

By Nazrin Sadigova