Hungary could import gas from Azerbaijan from 2023

  16 February 2020    Read: 1062
  Hungary could import gas from Azerbaijan from 2023

HUngary Today newspaper has highlighted a recent meeting of the Azerbaijan-Hungary mixed economic committee.

Headlined "Hungary could import gas from Azerbaijan from 2023", the article said Péter Szijjártó, the foreign affairs and trade minister, noted that Hungary could start importing natural gas from Azerbaijan from 2023.

"Addressing a press conference after a meeting of the Hungary-Azerbaijan mixed economic committee, Szijjártó said the annual 1-2 billion cubic metres of gas Hungary would import from Azerbaijan would greatly boost the security of the country’s gas supply."

"He 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 metres a year.

Azerbaijan places great emphasis on increasing its gas delivery capacity which is set to exceed 30 billion cubic metres a year, Szijjártó said."

"He 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," the article said.

"Szijjártó said this had been the largest Hungarian investment in the Caucasus," the newspaper said.

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