BAKU, Azerbaijan, June 6. MVM's entry into the Shah Deniz project will boost Hungary's energy independence, CEO of MVM Group Károly Mátrai said during a panel discussion themed "Gas Dialogue: The Role of Gas Supply During the Energy Crisis" at the 29th Baku Energy Forum in Azerbaijan on June 6, Trend reports.
“We independently invest in the search for hydrocarbons in Hungary and other countries, but we import up to 90 percent. At the same time, 40 percent of imports account for gas from Russia. We are grateful to Azerbaijan, Türkiye and Qatar for their supplies,” the CEO emphasized.
He went on to say that Hungary is working on finding a solution to the problem of diversifying its gas supplies and that it is unfortunate that its neighbors have increased transit tariffs for pumping gas.
MVM Group has entered into a purchase and sale agreement with the Azerbaijani state-owned enterprise Southern Gas Corridor CJSC (SGC) to acquire a five-percent share in the Shah Deniz offshore gas condensate field Production Sharing Agreement and a four-percent share in the Azerbaijan Gas Company Limited (AGSC) pipeline system for delivering natural gas to the EU.
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