SOCAR, MVM Group sign agreement on sale of 100 mcm of natural gas

President of the State Oil Company of Azerbaijan (SOCAR) Rovshan Najaf met with the Chief Executive Officer of the Hungarian company "MVM Group" Károly Mátrai, Trend reports.

It was emphasized at the meeting that bilateral and multilateral cooperation between Azerbaijan and Hungary is successfully developing in various directions, including in the energy sector.

The strategic role of Azerbaijan in ensuring the energy security of Europe was noted, in particular, the sides spoke about the importance of expanding the Southern Gas Corridor and the work done in connection with the supply of additional volumes of gas to Europe.

During the meeting, the significance of the commissioning of the Greece-Bulgaria gas interconnector, the "Agreement on strategic partnership in the field of development and transmission of green energy between the governments of the Republic of Azerbaijan, Georgia, Romania and Hungary" signed in December last year in Bucharest, as well as the Memorandum of Understanding between the transport system operators of the improved data transmission network of Bulgaria, Romania, Hungary and Slovakia and SOCAR signed in April of this year, called the "Ring of Solidarity".

They also discussed the prospects for cooperation in the field of natural gas trade, the supply of liquefied natural gas (LNG), the use of gas storage facilities, and an exchange of views took place on other topics of mutual interest.

At the end of the meeting an agreement was signed on the sale of natural gas in the amount of 100 million cubic meters. The start of deliveries of the volumes of gas specified in the contract is envisaged in the 4th quarter of this year.

Source: TREND News Agency