Azerbaijan's SOCAR and Hungarian MVM CEEnergy ink contract for gas supply

Azerbaijani SOCAR and Hungarian MVM CEEnergy on Friday signed a contract for the supply of Azerbaijani gas to Hungary in 2023, Hungarian Foreign Minister Peter Szijjarto said, Azernews reports, citing foreign media outlets.

According to the agreement, Szijjártó said on Facebook, Hungary will receive 100 million cubic meters of gas from Azerbaijan by the end of this year.

The Hungarian minister added that the current deal could become the basis for a long-term gas supply contract, according to which up to 2 billion cubic meters can be supplied to Hungary from Azerbaijan annually.

As reported, in 2022, Azerbaijan increased gas exports by 18% - up to 22.3 billion cubic meters, supplies to Europe amounted to 11.4 billion cubic meters (+39%).

According to the statistical office of the European Union (Eurostat), in 2022, the EU countries - Italy, Greece and Bulgaria - imported natural gas from Azerbaijan for 15.599 billion euros (an increase of 4 times over the year).

For 2023, gas exports from Azerbaijan are planned at the level of 24.5 billion cubic meters, of which about 12 billion cubic meters - to Europe.

Currently, buyers of Azerbaijani gas in Europe are Italy, Greece, Bulgaria and Romania.