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Hungary signs MoU on gas cooperation with Azerbaijan

Hungary and Azerbaijan signed a Memorandum of Understanding on cooperation in the field of natural gas during the visit of President of the Republic of Azerbaijan, Ilham Aliyev in Budapest on Monday.

At the joint press conference, Hungarian Prime Minister Viktor Orbán said that everyone in Europe knows that the only viable answer to the current energy crisis is diversification: to secure energy supplies from as many sources as possible and to transport it on as many routes as possible.

“In the current situation, it is clear that the most realistic scenario for diversification is to transport the energy produced in Azerbaijan to Europe,” he pointed out welcoming Azerbaijan’s commitment to improving European energy security.

The Hungarian PM reminded that Azerbaijan aims to double gas imports to Europe by 2027, while in December last year, the leaders of Azerbaijan, Georgia, Hungary and Romania agreed to build an underwater electric cable under the Black Sea bringing green electricity from Azerbaijan to Europe. “Thus, both natural gas and electricity coming from Azerbaijan will pass through Hungary, which makes us a winner of this new situation,” argued the Hungarian PM.

He underlined that the energy cooperation in Central Eastern Europe is not a regional issue anymore, but a European one. Since energy will arrive in Europe through these countries, Hungary is counting on the support of the European Commission to implement the necessary infrastructural projects.

The President of the Republic of Azerbaijan underlined that energy security is now a priority everywhere and his country has plenty of energy to satisfy European needs as a reliable supplier. He also reminded that Hungary and Azerbaijan have been working together for a long time on various policy issues and on creating a solid foundation for their energy cooperation.

The Memorandum of Understanding between the Ministry of Economy of the Republic of Azerbaijan and the Ministry of Foreign Affairs and Trade of Hungary was signed by the Minister of Economy of Azerbaijan Mikayil Jabbarov and Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó.

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