After the completion of the transit agreement between Russia and Ukraine, Hungary and Slovakia are approaching an agreement with Azerbaijan on the supply of natural gas to Europe, Bloomberg reports.
According to sources, Hungarian and Slovak companies are close to signing an agreement on the annual supply of 12 to 14 billion cubic meters of gas from Azerbaijan. According to the trade agreement, the Azerbaijani state company SOCAR will supply gas to Suja, located on the Russian-Ukrainian border.
Hungarian MVM Zrt and Slovak Slovensky Plynarensky Priemysel AS will transport gas to Europe in the future. For this purpose, it is planned to use the same gas pipeline network that currently transports Russian gas through Ukraine to the European Union. The contract will require so-called swap transactions between Azerbaijan and Russia. because Azerbaijan does not have sufficient export capacity to completely replace the existing supply volumes.
