Azerbaijan to start natural gas exports to Hungary from end of 2023

President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf met with Chief Executive Officer of the Hungarian MVM Group Károly Mátrai.

Report informs citing SOCAR that bilateral and multilateral cooperation between Azerbaijan and Hungary is successfully developing in various directions, including in the energy sector.

The sides discussed the strategic role of Azerbaijan in ensuring the energy security of Europe and, in this regard, underlined the importance of expanding the Southern Gas Corridor and the work done in connection with the supply of additional volumes of gas to Europe.

The sides also considered the prospects for cooperation in the field of natural gas trade, liquefied natural gas (LNG) supplies, the use of gas storage facilities, and other topics of mutual interest.

At the end of the meeting, SOCAR and Hungary's largest natural gas wholesaler MVM CEEnergy Zrt. signed an agreement on the sale of 100 million cubic meters of natural gas. Deliveries of gas volumes specified in the contract are planned to begin in the 4th quarter of this year.