As part of his working visit to Budapest, Azerbaijan’s Minister of Energy Parviz Shahbazov held meetings with Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó and Minister of Energy Csaba Lantos.

At the meeting with Péter Szijjártó, satisfaction was expressed with the results of the ministerial meeting on the development and the importance of accelerating the processes related to the establishment of the joint venture was noted, the Energy Ministry’s press service told News.Az.

It was emphasized that the transfer of large volumes of green energy from Azerbaijan will play an important role in the implementation of the Caspian-Black Sea-European Green Energy Corridor as an effective project. It was also noted that Uzbekistan and Kazakhstan are interested in the transmission of electricity from Central Asia through this corridor to Europe. The strategic importance of the project was assessed in the aspect of laying a bridge between Azerbaijan and the European Union, including Hungary.  

The importance of delivering Azerbaijani gas to the Hungarian market was discussed at the meeting. The prospects for gas supplies from Azerbaijan on a long-term basis, as well as the development of cooperation with Hungarian companies on oil and gas projects were discussed.

The discussion of cooperation with Hungary in the field of hydrocarbons and green energy continued at the meeting with Energy Minister Csaba Lantos. Broad exchange of views was held on the expansion of relations with MOL and MVM companies, as well as the process of feasibility study of the Green Energy Corridor project and the transmission of electricity to Europe. Hungary has agreed to provide experimental support for the processes associated with the accession to the European Network of Transmission System Operators for Electricity (ENTSO-E).