BAKU, Azerbaijan, June 5. The Hungarian MVM has acquired a share in the development project of Azerbaijan's gas condensate Shah Deniz field, said Azerbaijani Minister of Economy Mikayil Jabbarov, Trend reports.
"We discussed joint projects to strengthen Azerbaijani-Hungarian economic ties, active cooperation in energy, transportation, pharmaceuticals, the activities of Hungarian companies in our country, and promoting our investment partnership with Péter Szijjártó, Hungary's Minister of Foreign Affairs and Trade," he wrote on his page on X.
Jabbarov emphasized that the signed agreement will further bolster economic and energy ties between the two countries.
The current production capacity of Shah Deniz stands at approximately 79.5 million standard cubic meters of gas per day or around 29 billion standard cubic meters annually.
The distribution of shares in Shah Deniz is as follows: bp (operator - 29.99%), SGC (21.02%), Lukoil (19.99%), TPAO (19.00%), and NICO (10.00%).
