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Feb 17, 2020

Hungary could import natural gas from Azerbaijan in 2023

Hungary’s purchase of Azeri gas had been made possible by the near completion of the southern gas corridor and Azerbaijan’s increase of its gas output.

The foreign minister has announced that Hungary could start importing natural gas from Azerbaijan from 2023 onwards.

Following a meeting of the Hungary-Azerbaijan mixed economic committee, Peter Szijjártó said the annual 1-2 billion cubic meters of gas Hungary would import from Azerbaijan would greatly boost the security of the country’s gas supply.

According to MTI, the minister said Hungary’s purchase of Azeri gas had been made possible by the near completion of the southern gas corridor and Azerbaijan’s increase of its gas output which now exceeds 45 billion cubic meters a year.

Minister Szijjártó added that Azerbaijan places great emphasis on increasing its gas delivery capacity which is set to exceed 30 billion cubic meter a year.

The minister also highlighted an agreement between Hungarian oil and gas company MOL and the US company Chevron which resulted in MOL acquiring a 9.5 percent stake in the largest offshore Azeri oil field which also meant a nearly 9 percent stake in the largest oil pipeline of Azerbaijan and the Caucasus. He said this had been the largest Hungarian investment in the Caucasus.

Photo credit: azernews.az