11:23 - 6.06.2024

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June 6, Fineko/abc.az. Hungarian company MVM considers the acquisition of a 5% stake in the Shah Deniz gas field development project as a significant step towards diversifying gas supplies to Hungary.

ABC.AZ reports that MVM Group CEO Károly Mátrai stated about this during his speech at the Baku Energy Forum.

"We have a close collaboration with Azerbaijan in the energy sector. Yesterday, we signed an agreement with SOCAR to acquire a 5% share in Shah Deniz, one of the world's largest gas condensate fields. We take pride in this achievement, as we have a special relationship with Azerbaijan," Mátrai declared.

According to Mátrai, this deal has become the largest in MVM Group's strategy.

"It is a crucial element in our efforts to diversify our gas supplies and reduce dependence on a single source," Mátrai emphasized.