SOCAR, Hungary's MVM ONEnergy sign new gas supply agreement
BAKU. Dec 10 (Interfax) - State Oil Company of the Azerbaijani Republic (SOCAR) and Hungary's MVM ONEnergy have signed a new gas supply agreement that goes into effect on January 1, SOCAR said in a statement.
"On December 10, SOCAR President Rovshan Najaf held a meeting with Karoly Matrai, Chief Executive Officer of MVM Group. The meeting focused on cooperation between the companies across various segments of the energy sector, with discussions on ongoing projects and future partnership opportunities," SOCAR said.
The sides discussed prospects for expanding collaboration in gas supply, infrastructure projects, sustainable energy solutions, and regional partnership initiatives.
"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, serves to further strengthen the strategic energy partnership between Azerbaijan and Hungary," SOCAR said.
The new natural gas supply agreement builds on the companies' previous contract, it said.
SOCAR and MVM CEEnergy signed a supply contract for 100 million cubic meters of gas in June 2023, with deliveries starting in April 2024.
MVM Group holds 5% in the Shah Deniz project and 4% in SCPC, the operator of the South Caucasus Pipeline.
Azerbaijan has contracts to supply gas to 11 countries in Europe, namely Italy, Greece, Bulgaria, Romania, Hungary, Serbia, Slovenia, Croatia, Slovakia, North Macedonia and Germany. The annual volume should gradually increase to 15 terawatt-hours (TWh), which is around 1.5 billion cubic meters, including long-term contracts with a fixed supply volume to Italy, Greece, and Bulgaria, and with Germany's Securing Energy for Europe GmbH (SEFE) for 10 years. Contracts without exact purchase volumes have been signed with the remaining countries.
Azerbaijan also exports gas to Turkey via the Trans-Anatolian Pipeline (TANAP) and South Caucasus Pipeline (SCP), and to Georgia via the SCP and Gazimagomed-Gazakh pipeline.
On August 2, 2025, Azerbaijan began exporting gas to Syria. At the initial stage, the supply volume is 3.4 million cubic meters per day with a subsequent increase to 6 mcm.
Azerbaijan exported 25.2 bcm of gas in 2024, up 5.8% compared to 2023. It supplied 12.9 bcm or 51% of the total to Europe.
