Gabor Orban: Azerbaijan has potential to export LNG to Europe

Azerbaijan has potential to export liquefied natural gas (LNG) to Europe, CEO of the Hungarian company MVM CEEnergy Gabor Orban said during the 30th Baku Energy Forum, according to Report.

"Azerbaijan has the potential to export LNG, which can complement pipeline supplies and be used to supply the European region through the appropriate terminals," Orban noted.

He said that the total export potential of gas [of non-Russian origin] from the Caspian region [to Europe] is estimated at 30-45 billion cubic meters per year. The head of MVM emphasized that Hungary, as a landlocked country, relies primarily on pipeline supplies.

He added that the company is actively diversifying its portfolio and is seeking to expand in the gas market: "We are certainly interested in new opportunities to diversify gas sources," Orban said.

At the same time, he pointed to the existing infrastructure constraints that prevent an increase in supply volumes: "The Southern Gas Corridor requires expansion, including the Trans Adriatic Pipeline (TAP), whose capacity needs to be increased from 10 to 20 billion cubic meters. There are also "bottlenecks" in interregional gas connections, especially between Bulgaria and Serbia, as well as Serbia and Hungary. All these interconnectors need to be modernized," he emphasized.

At the same time, Orban expressed hope that the European Union will be able to provide financial support for the relevant investment projects.

"We can say that gas is back on the agenda - it is no longer banned. This is not about abandoning gas, but about maintaining its role in the energy balance. The main thing is whether the EU will be able to support these infrastructure investments," he concluded.