Azerbaijan, Hungary expand economic cooperation

Business Materials 15 February 2013 20:07 (UTC +04:00)

Azerbaijan, Baku, Feb. 15 / Trend, A. Akhundov, S. Agayeva /

Several Hungarian senior officials will visit Azerbaijan in the near future, the embassy of the country told Trend on Friday.

A delegation headed by Hungarian Agriculture Minister Gyula Budai will arrive in Baku on March 11-14. A delegation consisting of representatives of the public sector and business will participate in the first meeting of the agriculture subcommittee of the Azerbaijani-Hungarian Intergovernmental Commission.

Moreover, the Hungarian Minister of National Economy (Minister of Transport) Pál Völlner will visit Azerbaijan on March 15-17, and in the near future - Minister of Economic Development Németh Lászlóné.

"Hungary is very interested in the Nabucco West project," the embassy said. "The project is very interesting for us and important in ensuring the energy security of Europe, especially Hungary. We hope for Azerbaijan's support."

Nabucco-West envisages the construction of 1,300 km of pipeline (Bulgaria: 412 km, Romania 469 km, Hungary 384 km, Austria 47 km) from the Turkish-Bulgarian border to the Austrian Baumgarten. Gas to be produced during the second stage of Shah Deniz field development is considered as the main source for the project.

The shareholders are Austrian OMV, Hungarian FGSZ, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE.

In June 2012, the consortium of Azerbaijani Shah Deniz gas field development chose Nabucco West as the single pipeline option for the potential export of Shah Deniz Stage 2 gas to Central Europe.

The final decision is expected to be made in June 2013.