The State Oil Company of Azerbaijan (SOCAR) and Hungary’s MVM ONEnergy have signed a new agreement on natural gas supplies, strengthening the rapidly expanding energy partnership between the two countries.
According to SOCAR, company president Rovshan Najaf met on December 10 with Károly Mátrai, CEO of MVM Group. The sides discussed ongoing joint projects, future cooperation opportunities, and broader collaboration across the energy sector – from gas deliveries to infrastructure development and sustainable energy solutions.
SOCAR announced that the meeting concluded with the signing of a new natural gas supply agreement, which will take effect on January 1, 2026.
“The agreement further reinforces the strategic energy partnership between Azerbaijan and Hungary,” SOCAR said in its statement.
The new contract builds upon the companies’ earlier arrangements. SOCAR noted that the two sides have maintained “successful, reliable, and mutually beneficial cooperation in recent years,” adding that the continued partnership reflects their shared commitment to long-term collaboration and regional energy security.
In June 2023, SOCAR and MVM CEEnergy signed a contract for the supply of 100 million cubic meters of gas, with deliveries beginning in April 2024.
MVM Group also holds a 5% stake in the Shah Deniz project and a 4% share in the South Caucasus Pipeline Company (SCPC) – giving Hungary a tangible, long-term presence in Azerbaijan’s strategic natural gas corridor.
