SOCAR and Hungarian MVM ONEnergy signed a new natural gas supply agreement

The State Oil Company of Azerbaijan (SOCAR) and Hungarian MVM ONEnergy have signed a new natural gas supply agreement.

This is reported by BAKU.WS with reference to SOCAR information.

"SOCAR President Rovshan Najaf met with MVM Group CEO Károly Mátrai on December 10. The meeting reviewed cooperation issues between the companies across various energy sector areas, and there was an exchange of views on current projects and future partnership opportunities," the statement says.

The parties discussed prospects for expanding cooperation in gas supply, infrastructure projects, sustainable energy solutions, and regional partnership.

"As part of the meeting, SOCAR and MVM ONEnergy signed a new natural gas supply agreement. The agreement, which will take effect on January 1, 2026, serves to further strengthen the strategic energy partnership between Azerbaijan and Hungary," the statement says.

According to SOCAR, the new natural gas supply agreement has been developed based on the previous contract between the companies.

"In recent years, both companies have continued successful, reliable, and mutually beneficial cooperation. The extension of the partnership reflects the commitment of both parties to long-term energy cooperation and regional energy security," the information states.

Recall that SOCAR and MVM CEEnergy concluded a contract in June 2023 for the supply of 100 million cubic meters of gas. Deliveries began in April 2024.

Additionally, MVM Group owns a 5% stake in the Shah Deniz project and a 4% stake in South Caucasus Pipeline Company (SCPC, operator of the South Caucasus Pipeline).