“Natural gas will also be able to arrive in Hungary from Azerbaijan beginning in 2023; 1-2 billion cubic metres-a-year”, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Budapest on Friday.

At a press conference following a session of the Hungary-Azerbaijan Joint Inter-Governmental Committee, Mr. Szijjártó stated: “The security of Hungary’s natural gas supply will be increasing thanks to Azerbaijani gas, in view of the fact that the fuel will be arriving from several sources and via multiple routes”. “The purchasing of Azerbaijani gas has been made possible by the fact the construction of the southern gas corridor is nearing completion, and Azerbaijan is continuously increasing extraction, which could soon exceed 45 billion cubic metres-a-year”, he added.

“Azerbaijan is placing major emphasis on increasing its shipment capacities, which currently stand at 30 billion cubic metres-a-year”, the Minister said. He highlighted the agreement between Hungarian oil company MOL and Chevron, thanks to which the former has acquired a 9.5 percent share in the ownership of Azerbaijan’s best offshore oilfield, in addition to which in accordance with the transaction MOL has also acquired a 9 percent share in the ownership of one of the most important oil pipelines in Azerbaijan and within the Caucasus region. “This is the largest ever Hungarian investment in the Caucasus region”, declared the Minister, according to whom this step has put economic cooperation between the two countries into another dimension.

Mr. Szijjártó said that the other priority area within the Azerbaijani economy from Hungary’s perspective is the energy drinks market, in which Hell has a 60 percent share. He also reported on the fact that Azerbaijan’s largest greenhouse facility of over 20 hectares is also being constructed by a Hungarian company, with financing from Eximbank. The Minister said the fact that 200 Azerbaijani students are studying at Hungarian universities within the government’s scholarship programme is playing an important role in the construction of long-term relations between the two countries. Many in Azerbaijan have shown interest in this opportunity, and this year the program was oversubscribed by some 200 percent, he added.

The Republic of Azerbaijan’s Minister of Labour and Social Protection of the Population Sahil Babayev said Azerbaijan and Hungary are strategic partners with relation to politics and the economy alike. The Azerbaijani politician praised Hungary’s scholarship program, explaining that almost a thousand Azerbaijani students have already enjoyed its advantages. He also spoke about the fact that Wizzair has been given a new opportunity to not only link the capitals of the two countries, but to also be able to land at other international airports in Azerbaijan.

(MTI)