Today.Az » Business » Hungarian FM: Azerbaijan offers Europe most realistic opportunity for energy supplies
30 September 2022 [11:25] - Today.Az
By Ayya Lmahamad
Azerbaijan is offering the most realistic opportunity for a more reliable energy supply to Europe, Hungarian Foreign Affairs and Trade Minister Peter Szijjarto wrote on his official Facebook page, Azernews reports.
“With the volume of gas from Azerbaijan set to double in the coming years, it is important that the European Union supports the infrastructure investments that will allow Azerbaijani gas to be transported to Central Europe,” he wrote.
The minister added that the green electricity supplies from Azerbaijan to Europe will begin in the future, with the necessary transport route passing through Georgia, Romania, and Hungary.
With the completion of the TAP (Trans-Adriatic Pipeline) construction on December 31, 2020, Azerbaijan began commercial gas supplies to Europe via the Southern Gas Corridor. Last year, TAP transported 8.1 billion cubic meters of gas to Europe. By late 2022, Azerbaijan plans to increase gas supplies to Europe to 9.1 billion cubic meters, and in 2023, the volume of gas supplies is expected to reach 11 billion cubic meters.
Diplomatic relations between the two countries were established on April 27, 1992. Around 50 documents have been signed between the two countries. Azerbaijan and Hungary have also had fruitful cooperation within international and regional organizations. Hungary signed a strategic partnership agreement with Azerbaijan on November 11, 2014.
In 2021, the trade turnover between Azerbaijan and Hungary was $35.1 million, with exports totaling $1.7 million and imports totaling $33.3 million.