05.04.25
The 30th anniversary of the "Baku Energy Week" event, which will be held in Baku from June 2-4, serves as a platform to strengthen the energy sector cooperation between Azerbaijan and Hungary. This was reported by the "Report" agency.
The event will once again highlight Azerbaijan's important position in the global energy market and create new opportunities to expand energy cooperation between the two countries. In recent years, Azerbaijan and Hungary have been placing significant emphasis on expanding cooperation in the energy sector.
For example, in September 2024, a voluntary memorandum of understanding was signed between the Hungarian company "MOL" and the Azerbaijani company "SOCAR" to conduct geological studies and extraction activities at the "Shamakhy-Gobustan" oil and gas field. Prior to that, in June 2024, the "MOL" company began participating in the "Shah Deniz" project, one of Azerbaijan's largest gas fields.
In addition, Hungary is actively discussing the issue of increasing the volume of natural gas imports from Azerbaijan and building the necessary infrastructure for this. As an additional sector, the creation of a "green energy" corridor for delivering electricity from Azerbaijan to Hungary via Georgia, Romania, and Bulgaria is being considered.
Furthermore, Hungary is also interested in joining another part of the "green energy" corridor involving Azerbaijan, Georgia, Turkey, and Bulgaria.
