By Rasana Gasimova
Azerbaijan and Hungary will explore cooperation opportunities in the field of gas transportation and distribution.
The two countries have signed an agreement on the implementation of joint activities to explore cooperation possibilities in the areas of renewable energy and energy efficiency, as well as transportation and distribution of natural gas.
The document was signed as part of the first session of the Working Group on energy cooperation between Azerbaijan and Hungary held in Budapest on February 14, Energy Ministry said.
The current level of energy cooperation between the two countries and the prospective to develop it were discussed during the session.
Addressing the meeting, Energy Ministry’s Chief of Stuff Zaur Mammadov noted that Azerbaijan and Hungary should exchange experience in the field of geothermal energy.
In turn, Hungarian Ambassador-at-Large for Energy Security Pal Sagvari praised Azerbaijan’s role in creating the Southern Gas Corridor and expressed Hungary’s interest in expanding energy cooperation with the country.
The parties noted the need to organize events between the two countries in the field of energy, exchange of experience, cooperation in energy investment and expanding relations in the field of marketing and supply of new technologies, as well as oil and oil products.
The parties also noted that they support the development of strategic cooperation between Azerbaijan’s SOCAR and Hungary’s MOL.
Following the meeting, a protocol was signed. The parties decided to hold the second meeting of the working group in Azerbaijan.
Hungary regards Azerbaijan as a key partner in reference to ensuring Europe’s energy security.
Southern Gas Corridor project (SGC), which envisages transportation of 10 billion cubic meters of natural gas from the Caspian region to Europe, is important for Hungary in terms of diversification of energy sources. There is an efficient cooperation between Azerbaijan's SOCAR and Hungarian MOL oil companies.
One of the tasks is linking Hungary to the Southern Gas Corridor through interconnectors between the countries in Eastern Europe.
Hungary also joined AGRI (Azerbaijan-Georgia-Romania Interconnector), which will help diversify energy supply in the country.
AGRI project envisages transportation of Azerbaijani gas to the Black Sea coast of Georgia via gas pipelines. Azerbaijani gas delivered to Georgia's Black Sea coast will be liquefied at a special terminal and following this, it will be delivered in tankers to a terminal at the Romanian port of Constanta.
Follow us on Twitter @AzerNewsAz