TODAY.AZ / Business

Thanks to oil and gas cooperation with Azerbaijan, new opportunities open up for Hungary - FM

17 September 2023 [18:30] - TODAY.AZ

Hungary is now forced to look for new ways to import oil and gas, since the previous ones were disrupted as a result of the conflict in Ukraine, Minister of Foreign Affairs and External Economic Relations of Hungary, Peter Szijjártó said, Azernews reports.

“Serious opportunities are opening up in this area thanks to cooperation with Türkiye, Azerbaijan and the countries of Central Asia. Therefore, we need new connections, new supply routes, and the Turkic states offer a very good opportunity to become a bridge between East and West,” Szijjarto said.

He also noted that Hungary has signed a contract with Türkiye, according to which it will purchase 275 million cubic meters of gas from it at the beginning of the new year.

This year, Hungary bought 100 million cubic meters of gas from Azerbaijan. There are plans to receive gas from Turkmenistan and Qatar, concluded the Hungarian Foreign Minister.

Azerbaijan began gas supplies to Europe via the Southern Gas Corridor on December 31, 2020. The initial capacity of the Trans Adriatic Pipeline (TAP), which is the European section of the corridor, is 10 billion cubic meters per year with the possibility of expansion to 20 billion cubic meters.


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