Energy Minister holds bilateral meetings in Hungary

Minister of Energy Parviz Shahbazov had meetings with Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó and Minister of Energy Csaba Lantos in Budapest.

According to Azernew, at the meeting with Minister of Foreign Affairs and Trade Péter Szijjártó, satisfaction was expressed with the outcome of the ministerial meeting on the development and transfer of green energy, and the importance of accelerating the processes related to the establishment of the joint venture was noted.

It was emphasised that the transfer of a large amount 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 to Europe through this corridor. The strategic importance of the project was assessed in terms of creating a bridge between Azerbaijan and the European Union, including Hungary.

The importance of supplying Azerbaijani gas to the Hungarian market was discussed at the meeting.

Prospects of gas supplies from Azerbaijan on a long-term basis, as well as the development of cooperation with Hungarian companies in 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.

Views were exchanged on the expansion of relations with MOL and MVM, as well as on the feasibility study (FS) process for the green energy corridor project and the transmission of electricity to Europe.

It was agreed that Hungary would provide pilot support for the processes related to the European Association of Transmission System Operators of Electricity (ENTSO-E) grid connection.