Azerbaijan’s SOCAR and Hungary's MVM sign new gas supply deal
Azerbaijan's state energy company SOCAR and Hungary's MVM ONEnergy have signed a new natural gas supply agreement that will take effect on January 1, 2026, SOCAR said on Wednesday.
Azerbaijan's gas has been increasingly in focus since gas exports from Russia to Europe collapsed in the wake of Moscow's invasion of Ukraine in February 2022 and subsequent Western sanctions.
SOCAR said the new agreement is based on the previous contract. In June 2023, SOCAR and MVM CEEnergy signed a deal for the supply of 100 MMm3 of gas, with deliveries starting in April 2024.
A person familiar with the details of the deal said that Azerbaijan planned to export roughly the same amount in 2026 as in 2024, or around 100 MMm3, and that the volumes will be supplied during the upcoming winter.
MVM Group holds a 5% stake in the Shah Deniz gas field in Azerbaijan and a 4% stake in the South Caucasus Pipeline Company.
Azerbaijan supplies gas to 15 countries, mostly in Europe, and its gas exports totaled 18.3 Bm3in the first nine months of 2025, according to its energy ministry.
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