Hungary, Türkiye to renew natural gas export agreement for 2025-2026
Date
11/24/2024 4:20:55 AM
(MENAFN) Hungary and Türkiye are set to renew their natural gas export agreement, according to Laszlo Fritsch, the CEO of Hungary’s state-owned energy company MVM CEEnergy. The agreement was discussed on the sidelines of the Istanbul Energy Forum, which was organized by Anadolu and supported by the Ministry of Energy and Natural Resources. Fritsch highlighted the importance of continued cooperation with Türkiye's energy company, BOTAS, emphasizing the ongoing work to extend the deal signed in 2023.
The initial agreement between BOTAS and MVM marked a significant milestone as it was the first time Türkiye began exporting natural gas via pipeline to Hungary, a European country that isn't directly neighboring Türkiye. Fritsch expressed a desire to enhance the cooperation and increase the volumes of gas shipments in the future, indicating plans for a more expansive partnership. Hungary aims to finalize the renewal of the deal by the end of the year, paving the way for future energy collaboration.
Fritsch praised the 2023 deal, calling it a landmark achievement for both Hungary and Türkiye. He noted that it was the first agreement of its kind, with MVM becoming the first company to sign a natural gas delivery deal with BOTAS beyond Türkiye’s immediate neighbors. This deal is viewed as opening doors to further energy cooperation and strengthening ties between the two countries, with Fritsch emphasizing the importance of Türkiye's role in regional energy markets.
He went on to explain the significance of Central and Eastern Europe as a key region for Hungary's energy strategy, with Türkiye and BOTAS becoming major players in the sector. Fritsch highlighted that BOTAS could serve as both a gatekeeper and a physical hub for the entire region, with vast potential for expanding energy trade and infrastructure.
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