16:53 - 10.12.2025

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December 10, Fineko/abc.az. Azerbaijan's State Oil Company (SOCAR) and Hungary's MVM ONEnergy have signed a new natural gas supply agreement.

ABC.AZ reports with reference to SOCAR that SOCAR president Rovshan Najaf met with MVM Group CEO Karoli Matrai on December 10.

"At the meeting, issues of cooperation between companies in various areas of the energy sector were discussed, and views were exchanged on current projects and future partnership opportunities," SOCAR informs.

The parties discussed prospects for expanding cooperation in the field of gas supplies, infrastructure projects, sustainable energy solutions and regional partnerships.

"As part of the meeting between SOCAR and MVM ONEnergy, a new agreement on natural gas supplies was signed. The agreement, which will enter into force on January 1, 2026, serves to further strengthen the strategic energy partnership between Azerbaijan and Hungary.

According to SOCAR, the new natural gas supply agreement was developed on the basis of the previous agreement 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 sides to long-term energy cooperation and regional energy security," the company says.

SOCAR and MVM CEEnergy signed a contract in June 2023 for the supply of 100 million cu m of gas. Deliveries began in April 2024.

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