Azerbaijani gas deliveries to Europe start within a year

Thursday, April 23, 2015

Great potential in Hungarian - Azerbaijani economic cooperation

Azerbaijani natural gas deliveries to Europe start within a year; other possibilities can be talked about but in the long run, there is no alternative to the Azerbaijani natural gas said Foreign Minister Péter Szijjártó in Budapest after the Hungarian-Azerbaijani Joint Economic Committee meeting on Wednesday.

From the energy security point of view, Azerbaijan is our key partner stressed the Hungarian foreign minister during a joint press-conference held with Azerbaijani Economic and Industry Minister Sahin Mustafajev.

To maintain Europe's energy security, natural gas deliveries must be diversified commented Szíjjártó.

The industry minister confirmed that within a year Azerbaijani natural gas will be available for European customers. The southern gas corridor - TAP and TANAP - will allow Azerbaijan to supply Europe with natural gas within a year the minster added.

Both ministers stressed that the re-launch of direct flights between Budapest and Baku is an essential element of long term Hungarian-Azerbaijani cooperation.

Szijjártó pointed out that the Hungarian and the Azerbaijani economies mutually complement each other, they are not competitors, because of this there is a huge potential in bilateral cooperation between the two countries. The minister added that the Hungarian Eximbank opened a $ 145 million credit line for small and medium sized Hungarian enterprises to help financing their exports to Azerbaijan. He noted that in the past couple of years Azerbaijan was one of the main markets for Hungarian cattle exporters. MVM Hungarian Power Companies Ltd. negotiating with its Azerbaijani counterpart on getting into Azerbaijan's electricity network development. Hungarian oil company MOL wants to start oil explorations in Azerbaijan.

The Azerbaijani minister said the relaunch of direct flights between the two capitals is a very important development in strengthening bilateral relations in all areas, including Hungarian participation in Azerbaijani infrastructure developments.

(MTI –


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