Hungary and Azerbaijan discussed launching operations at Hungarian gas storage facilities

Baku/11.09.23//Turan: Hungarian Prime Minister Viktor Orban engaged in discussions on energy cooperation with Azerbaijani Economy Minister Mikail Jabbarov in a noteworthy diplomatic exchange. Zoltan Kovacs, the head of the press service of the Hungarian Prime Minister's office, shared insights into the dialogue on his social network account, underscoring the significance of this meeting.

Key among the topics discussed was the imperative of launching operations by the Azerbaijani energy company within Hungarian gas storage facilities, a move aimed at bolstering the energy security and collaboration between the two nations. The creation of a physical gas transit route linking Hungary and Azerbaijan was also on the agenda, reflecting a mutual commitment to enhancing energy infrastructure in the region.

Mr. Kovacs noted that the discussions encompassed the successful expansion of Hungarian companies' activities in Azerbaijan, signifying a growing economic partnership between the two countries. Additionally, the leaders explored the potential for Hungarian investments in Azerbaijan's future, potentially opening new avenues for economic growth and cooperation.

 In a recent announcement, Hungary's Foreign Minister, Peter Szijjarto, revealed the nation's intention to ramp up its procurement of natural gas from Azerbaijan and Turkey. Gas has already started to flow to Hungary. Szijjarto's statement, made last week, underscored Hungary's ongoing efforts to diversify its energy sources and reduce reliance on traditional suppliers.

Szijjarto conveyed the details of his discussions with Bulgarian President Rumen Radev during a telephone conversation, emphasizing the critical role of Bulgaria in facilitating this growing energy partnership. The primary agenda of their conversation centered on bolstering energy cooperation between Hungary and its Eastern European partners.

"The topic of the conversation was the strengthening of our energy cooperation. As we plan to purchase more natural gas from Azerbaijan and Turkey, we will have an increasing need for transit traffic through Bulgaria. Mr. President Radev assured us that we can count on him in this matter," Szijjarto announced on his social media platforms, highlighting the mutual commitment to deepening energy ties.

One of the pivotal factors motivating Hungary's strategic shift is the anticipated discontinuation of natural gas transportation through Ukraine, a development that will markedly elevate the significance of the Bulgarian-Serbian-Hungarian transport corridor. This corridor is poised to become a vital conduit for energy resources into Central Europe, offering Hungary enhanced energy security and diversified supply routes.

A milestone agreement between Azerbaijan's State Oil Company, SOCAR, and Hungary's MVM CEEnergy in June of this year laid the groundwork for this ambitious energy endeavor. The agreement encompasses the supply of 100 million cubic meters of Azerbaijani gas to Hungary in 2023, commencing in the fourth quarter. Furthermore, Peter Szijjarto has previously articulated Hungary's aspiration to procure up to 2 billion cubic meters of gas annually from Azerbaijan.

Hungary's move to increase its natural gas purchases from Azerbaijan and Turkey aligns with broader European efforts to diversify energy sources and reduce dependency on a single supplier. It also reflects Hungary's commitment to strengthening its energy security and enhancing regional cooperation in the realm of energy infrastructure and supply.--0--