Azerbaijan’s SOCAR and Hungary’s MVM sign new gas supply agreement effective from 2026

BAKU, Dec 10 — Azerbaijan’s state energy company SOCAR and Hungary’s MVM ONEnergy have signed a new natural gas supply agreement that will take effect on January 1, 2026, SOCAR said on Wednesday.

SOCAR President Rovshan Najaf met with MVM Group CEO Karoly Matrai to discuss cooperation across the energy sector, including gas supplies, infrastructure projects and future partnership opportunities.

SOCAR said the new agreement is based on the previous contract. In June 2023, SOCAR and MVM CEEnergy signed a deal for the supply of 100 million cubic metres of gas, with deliveries starting in April 2024.

A source familiar with the details told Reuters that Azerbaijan plans to export roughly the same volume in 2026 as in 2024 — around 100 million cubic metres, and that transportation is expected to be completed before the end of the upcoming winter season.

MVM Group holds a 5% stake in the Shah Deniz gas field and a 4% stake in the South Caucasus Pipeline Company.

Azerbaijan supplies gas to 15 countries, including 12 in Europe, and also exports gas to Turkey, Georgia and Syria.

Gas exports totalled 18.3 bcm in the first nine months of 2025, with 9.4 bcm delivered to Europe, 7.3 bcm to Turkey (including 4.3 bcm via TANAP), and around 1.6 bcm to Georgia.

N.Tebrizli