Hungary Signs Gas Supply Deal with Azerbaijan

Hungary has secured an agreement to receive natural gas from Azerbaijan for the next two years, Hungarian Foreign Minister Peter Szijjarto said, as the central EU member state disputes the bloc’s pledge to phase out Russian gas imports.  

“We have secured another gas purchase agreement, this time with Azerbaijan: 800 million cubic metres over two years,” Szijjarto posted on X

Earlier this week, Rovshan Najaf, the president of Azerbaijan’s state oil and gas firm SOCAR, met with the chief executive of Hungary’s energy company MVM Group, Karoly Matrai, to discuss gas supply and future partnership opportunities. 

During the meeting, SOCAR and MVM ONEnergy signed a new agreement on natural gas supply. The agreement, which enters into force on January 1, 2026, will further strengthen the strategic energy partnership between Azerbaijan and Hungary, the Azeri company said on Wednesday. 

While Hungary pursues supply from Azerbaijan, it is also disputing the EU’s decision to phase out Russian gas imports. 

Earlier this month, Hungary vowed to challenge the EU’s decision to phase out imports of Russian oil and gas at the Court of Justice of the European Union, claiming it is impossible for the central European nation to halt energy imports from Russia.   

“Accepting and implementing this Brussels order is impossible for ‌Hungary,” Szijjarto said. 

On December 3, the EU agreed to permanently stop Russian gas imports and phase out Russian oil by 2027.  

The agreement will involve a legally binding, gradual reduction in both LNG and pipeline gas imports from Russia, eventually resulting in a full ban on these exports, with the deadlines set for the end of 2026 for LNG and September 30, 2027 for pipeline gas.   

The decision, however, was met with opposition from the central EU member states Hungary and Slovakia at nearly every turn. 

Both Hungary and Slovakia have kept ties with Russia, especially Hungarian Prime Minister Viktor Orban, who has met with Putin several times since Russia invaded Ukraine.  

By Michael Kern for Oilprice.com

More Top Reads From Oilprice.com

 

  • Related Posts

    Canada Approves Enbridge’s $4 Billion Sunrise Gas Expansion

    Canada has approved Enbridge’s C$4 billion Sunrise Expansion, clearing the way for a major buildout of British Columbia gas infrastructure that will add 300 million cubic feet per day of…

    JPMorgan Says Oil Prices Still Have Further to Rise

    JPMorgan says oil prices still have further to rise because the market has not yet forced enough demand out of the system to offset the supply loss from the Iran…

    Have You Seen?

    SLB, Baker Hughes See Oil Exploration Spending Rising as Iran War Disrupts Supply

    • April 24, 2026
    SLB, Baker Hughes See Oil Exploration Spending Rising as Iran War Disrupts Supply

    US Exporters are Plugging a Qatar-Sized LNG Supply Hole – For Now: Maguire

    • April 24, 2026
    US Exporters are Plugging a Qatar-Sized LNG Supply Hole – For Now: Maguire

    US Drillers Add Oil and Gas Rigs for First Time in Three Weeks, Baker Hughes Says

    • April 24, 2026
    US Drillers Add Oil and Gas Rigs for First Time in Three Weeks, Baker Hughes Says

    Oil Prices End Volatile Session Mixed But Up Sharply for the Week on Supply Worries

    • April 24, 2026
    Oil Prices End Volatile Session Mixed But Up Sharply for the Week on Supply Worries

    Amber Energy Says it Will Invest $11 Billion in Citgo if Sale is Finalized

    • April 24, 2026
    Amber Energy Says it Will Invest $11 Billion in Citgo if Sale is Finalized

    US Imposes Sanctions on Chinese Teapot Refinery for Buying Iranian Oil

    • April 24, 2026
    US Imposes Sanctions on Chinese Teapot Refinery for Buying Iranian Oil

    Canada Approves Enbridge’s $4 Billion Sunrise Gas Expansion

    • April 24, 2026
    Canada Approves Enbridge’s $4 Billion Sunrise Gas Expansion

    Trump Extends Jones Act Shipping Waiver Through August

    • April 24, 2026
    Trump Extends Jones Act Shipping Waiver Through August

    JPMorgan Says Oil Prices Still Have Further to Rise

    • April 24, 2026
    JPMorgan Says Oil Prices Still Have Further to Rise

    Baker Hughes wins LNG equipment award from QatarEnergy

    • April 24, 2026
    Baker Hughes wins LNG equipment award from QatarEnergy