The Hungarian company MVM considers the acquisition of a 5% stake in the Shah Deniz gas field development project as a significant step towards diversifying gas supplies to Hungary, as stated by MVM Group CEO Károly Mátrai during his speech at the Baku Energy Forum, according to Report.
"We have a close collaboration with Azerbaijan in the energy sector. Yesterday, we signed an agreement with SOCAR to acquire a 5% share in Shah Deniz, one of the world's largest gas condensate fields. We take pride in this achievement, as we have a special relationship with Azerbaijan," Mátrai declared.
According to him, this deal has become the largest in MVM Group's strategy. "It is a crucial element in our efforts to diversify our gas supplies and reduce dependence on a single source," Mátrai emphasized.