Hungary's MVM opens branch in Azerbaijan as Shah Deniz project shareholder

BAKU. Oct 29 (Interfax) - Hungary's MVM Upstream Private Limited Company has opened a branch in Azerbaijan.

The Azerbaijani Economy Ministry's State Tax Service told Interfax that the branch was registered on August 30, 2024. Hungarian citizen Istvan Nemeth head it.

Hungary's MVM Group signed a deal to buy a 5% stake in the Shah Deniz gas-field development project from Azerbaijan's Cenub Qaz Dehlizi and a 4% stake in South Caucasus Pipeline Company (SCPC) from Azerbaijan Gas Supply Company Limited (AGSC) on June 5 and closed it on August 30.