Hungarian Conservative

Hungary has been proactive in building strong economic ties and investing in energy production in Kazakhstan, Azerbaijan, and Uzbekistan. Hungarian companies, such as MVM and MOL groups, play a key role in oil production in Kazakhstan and natural gas production in Azerbaijan. Notably, Hungary recently acquired a 5 per cent share in Azerbaijan’s Shah Deniz natural gas field. The successful operations of Hungarian businesses in these countries, combined with the development of economic and transit projects, have elevated Hungary’s role within the EU as a bridge to these energy-rich nations, enhancing the EU’s access to diversified energy resources.