Business

Energy cooperation between Turkiye and Hungary is deepening

Minister of Energy and Natural Resources Alparslan Bayraktar announced that Turkiye and Hungary will cooperate in the field of nuclear energy, underground natural gas storages and liquefied natural gas LNG terminals.

Bayraktar accompanied President Recep Tayyip Erdogan at the 6th meeting of the Turkiye-Hungary High Level Strategic Cooperation Council held in Budapest.

Making evaluations on his X social media account regarding the meetings and agreements signed with the Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto and the Hungarian Minister of Energy Csaba Lantos, Bayraktar said:

“We attended the 6th Meeting of the Turkiye-Hungary High Level Cooperation Council held in Budapest under the chairmanship of our President, Mr. Recep Tayyip Erdogan. After the meeting, we signed a ‘Memorandum of Understanding on Cooperation in the Field of Nuclear Energy’ between our Ministry and the Hungarian Ministry of Foreign Affairs and Foreign Trade in the presence of the leaders. With the signatures signed, we aim to make our cooperation in this field gain a more institutional character and to increase the sharing of knowledge and experience between the two countries in the field of nuclear energy, security and sustainability.”

Minister Bayraktar stated that during the visit, a memorandum of understanding was signed between Pipelines and Petroleum Transport Inc. (BOTAS) and the Hungarian state company MVM to increase cooperation in the field of natural gas. “I hope that the agreement, which includes possible partnerships in the field of natural gas trade, cooperation in the field of underground natural gas storages and LNG terminals, and the use of hydrogen in natural gas pipelines, will be beneficial for both countries.”

Natural gas shipments from Turkiye to Hungary are planned to start in 2024

BOTAS and MVM signed a natural gas export agreement in August. With the agreement signed in line with Turkiye’s strategic goals in the field of energy and its vision of becoming a central country in natural gas, natural gas shipments from Turkiye to Hungary are planned to start in 2024.

The agreement also includes the use of Turkiye’s LNG infrastructure and natural gas storage facilities of the two countries within the framework of common interests.

Source: Trthaber / Prepared by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button