FM: Hungary and Azerbaijan sign historic gas field agreement
Azerbaijan, Georgia, Romania and Hungary will also set up a joint venture to import green energy produced in the Caspian region to central Europe.
Azerbaijan, Georgia, Romania and Hungary will also set up a joint venture to import green energy produced in the Caspian region to central Europe.
The foreign minister said the move greatly contributes to Hungary’s diversification efforts in energy supply.
The prime minister congratulated Aliyev on his “huge and indisputable” election victory.
Azerbaijan has begun LNG deliveries to Hungary under a deal to purchase 100 million cubic meters of gas and store a further 50 million cubic meters.
Minister Szijjártó said in Baku that the foundations of “another joint success story” between the two countries had been laid by the Hell Energy Group signing an agreement with the Azerbaijan Investment Company.
Minister Szijjártó noted Hungarian oil and gas company MOL’s significant investments in Azerbaijan as well as drugmaker Richter’s increased presence on the Azeri market.
The president said “excellent bilateral relations” with strategic partners are even more valuable during the economic and energy crisis caused by the Ukraine-Russia war.
The prime minister said the two countries have decided to strengthen cooperation because the international environment “is more dangerous than ever”.
The Hungarian government was hopeful that Azeri gas could start contributing to Hungary’s energy security as soon as possible.
Minister Szijjártó said gaining access to Azeri gas via southern Europe from the end of next year would bolster Hungary’s energy security.
Péter Szijjártó said bilateral cooperation, built on strong foundations, was entering a “new phase” offering good opportunities to Hungarian firms in reconstruction projects in the Nagorno-Karabakh region.
Bilateral ties in energy policy, education and trade were on the agenda during talks between PM Orbán and Sahiba Gafarova.
During an official visit to Baku in Azerbaijan, Prime Minister Viktor Orbán said the next step in advancing Hungarian-Azeri relations is boosting economic cooperation between the two countries.