BAKU, Azerbaijan, December 10. SOCAR President Rovshan Najaf met with CEO of MVM Group Károly Mátrai to enhance regional energy security cooperation, the statement from SOCAR said, Trend reports.
The meeting reviewed cooperation issues between the companies in various areas of the energy sector and exchanged views on current projects and future partnership opportunities.
The parties discussed the prospects for expanding cooperation in gas supply, infrastructure projects, sustainable energy solutions, and regional partnership areas.
Within the framework of the meeting, a new agreement on natural gas supply was signed between SOCAR and MVM ONEnergy. The agreement, which will enter into force on January 1, 2026, serves to further strengthen the strategic energy partnership between Azerbaijan and Hungary.
The new agreement on natural gas supply was developed on the basis of a previous agreement between the companies. Over the past years, both companies have continued successful, reliable, and mutually beneficial cooperation. The extension of the partnership reflects the commitment of both parties to long-term energy cooperation and regional energy security.
MVM Group is a leading Hungarian state-owned energy company, pivotal in electricity and gas generation, transmission, distribution, and trade across Central and Eastern Europe. It encompasses all energy sectors and offers related services, with a significant international footprint. As Hungary's largest nationally owned enterprise and a top player in the CEE region by revenue, MVM's operations include various power plants (nuclear, coal, solar, and hydro) and gas storage interests. The company's vision emphasizes regional competitiveness, sustainable energy supply, and innovation and aims to double EBITDA.
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