BAKU, Azerbaijan, June 4. Hungary counts on the growth of gas supplies from Azerbaijan, the Deputy State Secretary of the Ministry of Energy of Hungary, Mark Alföldy-Boruss told Trend.
“We are considering all possible ways to diversify imports. Currently, our country is heavily dependent on oil and natural gas supplies - about 70 percent of domestic consumption is provided by imports through the Turkish Stream pipeline. We hope that with the help of this route, as well as through the use of the Vertical Corridor, we will be able to increase the volume of natural gas supplies from the Azerbaijani region,” he said.
Alföldy-Boruss recalled that the state-owned Hungarian company MVM Group acquired a 5 percent stake in the Shahdeniz oil and gas field last year.
“Hopefully, this is just the beginning of cooperation for MVM Group, while MOL Group has been operating in this region for five years. Yesterday, a new cooperation agreement was signed with SOCAR on offshore projects. We expect this to be another direction in ensuring Hungary's energy security in oil and gas,” he added.
According to him, the “Green Energy Corridor” Caspian - Black Sea will have a capacity of 4 gigawatts, formed at the expense of wind energy of the Caspian Sea and hydro resources of the region. The energy will be transmitted to the European Union via a submarine cable.
“Some of this energy will go to Romania, but the whole project will end up in Hungary, my country, with 2 gigawatts. We hope that this will ensure high security of supply of green energy to our region,” Mark Alföldy-Boruss emphasized.