Azeri natural gas certain to arrive in Europe, says Hungarian FM

Gas will arrive from the Shah Deniz gas field through the Trans-Adriatic and Trans-Anatolian gas pipelines, so Azerbaijan is a partner of outstanding importance from the point of energy security, Szijjarto said at the end of a two-day meeting of the Hungarian-Azeri economic mixed committee. In order to secure energy supplies for Europe,  diversification of resources is needed, Szijjarto said at a joint press conference with Azeri Economic Minister Shahin Mustafayev.

Szijjarto noted that Magyar Eximbank had opened a 145 million dollar credit line to Hungarian SMEs for financing exports to Azerbaijan.

The state-owned Hungarian Electricity Works (MVM) has started talks on participating in the development of the Azeri transmission system, and Hungarian oil and gas company MOL is negotiating with Azeri peer Socar on cooperation in production, he said.

Mustafayev said a direct flight between Hungary and Azerbaijan would do much to cement ties between the countries. He said Hungarian companies could participate in Azeri infrastructure projects, and that cooperation in the pharmaceutical sector could be expanded.

 

(HNW)