Azerbaijan, Hungary discuss gas supplies to Europe

BAKU. March 11 (Interfax) - Azerbaijani Energy Minister Parviz Shahbazov and Hungarian Foreign Minister Peter Szijjarto discussed Azerbaijani gas supplies to Europe during a meeting in Budapest.

"We reviewed the development of bilateral energy cooperation, the implementation of the Green Energy Corridor project [Black Sea Energy] and Europe's energy security issues. We also discussed gas supplies from Azerbaijan to European countries and the upcoming meeting of the Southern Gas Corridor Advisory Council, which will take place in April," Shahbazov said on the social media platform X.

The meeting emphasized the key role of Azerbaijan and the Southern Gas Corridor in ensuring Europe's energy security, the Azerbaijani Energy Ministry's press service said.

"The prospects for Azerbaijani gas exports, the need to develop new gas reserves and infrastructure expansion were discussed. The importance of diversifying energy supplies and a rational approach to gas-related issues was also highlighted," the press service said.

Shahbazov invited Szijjarto to actively participate in discussions on natural gas and green energy at the Southern Gas Corridor Advisory Council meeting in April.

The parties also exchanged views on completed and planned projects with the Hungarian companies MOL Group and MVM.

As reported, the State Oil Company of the Azerbaijani Republic (SOCAR) and Hungary's MVM CEEnergy signed a contract in June 2023 for the supply of 100 million cubic meters of gas. Deliveries began in April 2024.

Currently, MOL holds a 9.57% stake in the Azeri-Chirag-Gunashli development project and an 8.9% stake in the Baku-Tbilisi-Ceyhan oil pipeline project in Azerbaijan. In addition, on September 20, 2024, SOCAR and MOL Hungarian Oil and Gas signed a memorandum of understanding for exploration, development and production at the Shamakhi-Gobustan block, located onshore in Azerbaijan.

MVM is a participant in the Shah Deniz field development project with a 5% stake.