Having stake in Shah Deniz to ensure Hungary's energy security, Szijjarto says

Hungary's Minister of Foreign Affairs and Trade, Peter Szijjarto, announced during a press conference with Azerbaijan's Foreign Minister Jeyhun Bayramov that Hungary's state energy company will acquire a stake in Azerbaijan's Shah Deniz natural gas field development project.

Szijjarto emphasized the significance of this agreement for Hungary, stating, "This is a crucial deal for Hungary. We will own a portion of the gas ourselves, ensuring our energy security. We are grateful to the Azerbaijani government for this opportunity."

The minister also noted that energy cooperation between the two countries is currently reaching a new, higher level.

He said the company also signed a Framework Agreement with the State Oil Company of Azerbaijan (SOCAR) for the supply of liquefied natural gas (LNG) to Europe.