Azerbaijan’s natural gas production potential and the Southern Gas Corridor, which has been built and is expected to be expanded, provide an opportunity to become a source of gas for Hungary, Ambassador Extraordinary and Plenipotentiary of Hungary to Azerbaijan, Tamas Torma said in an interview with Report.
The ambassador noted that diversification is a cornerstone of Hungary’s energy strategy:
“Around 80-85% of Hungary’s natural gas imports come from Russia, with a larger share coming from Türkiye via the Turkish Stream and then the Balkan Stream. Diversification is a cornerstone of Hungary’s energy strategy, so while we have found Gazprom to be a reliable contractual partner and we expect Russian energy sources to continue to be a source of energy in the future, Hungary is seeking to diversify and find as many sources as possible.”
“In 2023, under the agreement between MVM and SOCAR, in addition to the 50 million cubic meters contracted for gas storage in Hungary, physical gas flows to Hungary from Azerbaijan started. The contract was for the purchase of 100 million cubic meters of gas in the first tranche, but this agreement has created the possibility for larger volumes of gas to be supplied from Azerbaijan in the future,” the ambassador said.
You can read the interview here.