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Hungary close to finalise gas storage deal with Azerbaijan

Under an agreement signed at the beginning of June, Azerbaijan will deliver 100 million cubic metres (mcm) of natural gas to Hungary by the end of the year. The two countries are discussing further strengthening their energy cooperation as they are close to finalising a storage contract for 50 million cubic metres.

“Europe continues to face a severe energy supply crisis,” emphasised Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade after his visit to Baku last week. “We are doing everything in our power to source gas from as many and as diverse suppliers as possible to ensure the security of our country’s energy supply.”

According to the Hungarian government, Azerbaijan presents one of the most obvious sources for diversification. However, as the Hungarian Minister underlined, the Southeast European gas pipeline system currently does not allow for larger quantities of shipments. He noted that despite Hungary’s repeated request for the EU’s help to expand the infrastructre, they received no support so far.

“We do not wait for the EU: we have concluded all necessary agreements with our Azerbaijani friends, who will begin delivering natural gas to Hungary this year, starting with 100 million cubic meters by the end of the year,” said Mr Szijjártó referring to the agreement signed between Hungary’s MVM CEEnergy and Azerbaijan’s SOCAR at the beginning of June.

Moreover, the Minister revealed that the two countries are close to finalising a storage contract for 50 million cubic metres of natural gas.

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