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energy diversification

MOL Group Finalizes Natural Gas Extraction Agreements in Azerbaijan

After months of negotiations MOL Group has finalized commercial agreements with its joint venture partners, Azerbaijani SOCAR and British BP, for the extraction of natural gas reserves in Azerbaijan. This positions the Hungarian oil and gas company as the third-largest…
View of Ashgabat from the Arch of Neutrality (Wikimedia Commons)

EU Gas Supply Diversification to Be Enhanced by Hungary–Turkmenistan Deal

As Hungary holds the presidency of the Council of the EU, it can leverage its influence to set the EU’s agenda in favour of increased imports of Turkmen gas, presenting it as a strategic and cost-effective alternative to Russian energy…

A Giant Step Towards Energy Diversification — Hungary to Buy Stake in One of the World’s Largest Gas Fields in Azerbaijan

The Hungarian MVM Group is set to buy a stake in Shah Deniz, one of the world’s largest natural gas fields, in Azerbaijan. This move will significantly strengthen Hungary’s energy supply and represents another major step towards independence from Russian…
Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó speaks at the opening of the Budapest LNG Summit on 6 December 2021.

US Embassy Denounces Hungary in Paid Advertisement Full of Half-Truths

Hungary stands as the sole EU member state purportedly failing to adequately diminish its energy reliance on Russia, a paid advertisement of the US Embassy in Budapest suggests. However, the truth is that numerous EU nations continue to rely on…

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