CEO: Hungarian MVM seeks long-term gas deal with Azerbaijan

The Hungarian energy company MVM is actively working to finalise a gas supply contract with Azerbaijan that would include long-term terms, signalling a deepening strategic partnership between the two countries.

Gabor Orban, CEO of MVM CEEnergy, shared this update during the 30th Baku Energy Forum, Caliber.Az reports via local media.

“We were the first trading company from Central Europe to purchase Azerbaijani pipeline gas and physically transport it to Hungary,” Orban said, referring to their initial short-term contract. “Now, we see this relationship as part of a broader strategic partnership and are focused on negotiating both short- and long-term contracts.”

Orban emphasised that the duration of any future contract depends on establishing stable and sustainable conditions, which are essential before committing to longer terms.

Previously, Azerbaijan’s State Oil Company, SOCAR and MVM CEEnergy signed a contract in June 2023 for the delivery of 100 million cubic meters of gas, with supplies starting in April 2024.

Beyond supply agreements, MVM Group also holds a 5% ownership stake in the Shah Deniz gas project and a 4% share in the South Caucasus Pipeline Company (SCPC), the operator responsible for managing the South Caucasus Pipeline infrastructure. This involvement further solidifies MVM’s long-term engagement in the region’s energy sector.

By Tamilla Hasanova