Breaking news Turkey
  • General
  • World
  • Türkiye
  • Politics
  • Economy
  • Tech
  • Travel
No Result
View All Result
breaking news turkey
  • General
  • World
  • Türkiye
  • Politics
  • Economy
  • Tech
  • Travel
No Result
View All Result
breaking news turkey
Home Economy

Hungary to buy gas from Türkiye as part of ‘groundbreaking’ deal

The proposed purchase was agreed upon during Erdoğan's visit to Hungary

August 21, 2023
in Economy
Reading Time: 2 mins read
A A
0
A pressure metre is pictured at the gas storage facility of Hungarian state-owned energy group MVM in Zsana. (Reuters photo)

A pressure metre is pictured at the gas storage facility of Hungarian state-owned energy group MVM in Zsana. (Reuters photo)

Share on FacebookShare on Twitter

The Hungarian energy conglomerate, MVM, has reached an agreement to purchase approximately 300 million cubic meters (mcm) of natural gas from the Turkish energy company, BOTAS.

“This strategic arrangement is part of the government’s comprehensive initiative to bolster national energy self-sufficiency,” Hungarian government spokesman Zoltan Kovacs said on social media platform X, formerly known as Twitter.

You might also like

Record-breaking October for Turkish exports as trade reaches new heights

Record-breaking October for Turkish exports as trade reaches new heights

November 6, 2023
Number of tourists visiting Antalya exceeds 14.5 million

Number of tourists visiting Antalya exceeds 14.5 million

October 25, 2023

This strategic move is aimed at bolstering energy security and achieving price stability in the face of the ongoing international energy crisis, which has been exacerbated by conflicts and sanctions, Kovacs stated.

The proposed purchase was agreed upon during the visit of Turkish President Recep Tayyip Erdoğan to Hungary on Sunday and details are expected to be finalized by the end of the year, Kovacs said.

A BOTAS statement described the deal as a “groundbreaking agreement” marking the first time Türkiye has agreed to gas exports with a non-neighboring country and that it will boost the security of the European energy supply.

Türkiye inked a deal with Bulgaria in January, committing to export 1.5 billion cubic meters of natural gas annually for a duration of 13 years.

Meanwhile, Hungary said Sunday that it has agreed with Türkiye to further improve their already excellent bilateral relations.

The two countries agreed to elevate the level of their relations from a strategic partnership to a priority strategic partnership, Foreign Minister Peter Szijjarto said while commenting on Erdoğan’s visit to the country, according to public broadcaster Kossuth Radio.

Turkish President Erdoğan shakes hand with Hungary’s Prime Minister Orban (AA photo)

Erdoğan will pay an official visit to Hungary

Szijjarto said Erdoğan will visit Budapest again on Dec. 18, when a meeting of the high-level Strategic Council will be held, during which an agreement on the establishment of a priority strategic partnership and mutual assistance in emergency situations will be signed.

“This clearly shows the two countries’ commitment to improving bilateral cooperation, from which they benefit a lot,” he said.

He also disclosed that Hungary is interested in buying natural gas from the TurkStream gas pipeline via Türkiye.

Szijjarto also said that Türkiye’s transit role in energy transportation would be further boosted with the entry into force of a natural gas deal between Hungary and Azerbaijan and Turkmenistan’s entry into the European market as a gas supplier.

By Breaking News Turkey with agencies

Tags: Hungarynatural gasnewsTürkiye
News Desk

News Desk

Related Stories

Record-breaking October for Turkish exports as trade reaches new heights

Record-breaking October for Turkish exports as trade reaches new heights

November 6, 2023

Türkiye's Trade Minister revealed that the country's exports reached a new high for the month of October, with a year-on-year...

Number of tourists visiting Antalya exceeds 14.5 million

Number of tourists visiting Antalya exceeds 14.5 million

October 25, 2023

More than 14.5 million tourists visited the Turkish resort city as of Oct 24, 2023, according to the Mediterranean Touristic...

Şimşek meets with French business people to boost investments in Türkiye

Şimşek meets with French business people to boost investments in Türkiye

October 19, 2023

Türkiye's treasury and finance minister on Thursday met investors in the French capital Paris. Mehmet Şimşek conducted roundtable discussions with...

Türkiye to resume operations of Iraq oil pipeline this week

Türkiye to resume operations of Iraq oil pipeline this week

October 2, 2023

Türkiye's Energy Minister, Alparslan Bayraktar, announced on Monday that operations on a crude oil pipeline from Iraq, which had been...

Next Post
TRNC president raises concerns over Greek Cypriot’s aim to alter Pile’s identity

TRNC president raises concerns over Greek Cypriot's aim to alter Pile's identity

Leave a Reply Cancel reply

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

Recommended

Pakistani health minister tests positive for coronavirus

Pakistani health minister tests positive for coronavirus

July 6, 2020
UK reaches deal with Türkiye to tackle illegal migrants flow

UK reaches deal with Türkiye to tackle illegal migrants flow

August 9, 2023

Popular Story

  • Turkey playing key role in NATO for 70 years

    Turkey playing key role in NATO for 70 years

    586 shares
    Share 234 Tweet 147
  • Turkish women’s volleyball team beat Germany

    585 shares
    Share 234 Tweet 146
  • Turkish forces seize sulfuric acid on way to Syria

    585 shares
    Share 234 Tweet 146
  • Russia’s congratulation on 100th anniversary: ‘We love Türkiye’

    587 shares
    Share 235 Tweet 147
  • Nuclear power currently meets 10% of global electricity supply

    585 shares
    Share 234 Tweet 146
Breaking News Türkiye

SuperPanda Limited
Latest news from Turkey and the World

  • Privacy Policy
  • About Us

Copyright © 2023 Superpanda limited - Breaking news Turkey

No Result
View All Result
  • General
  • World
  • Türkiye
  • Politics
  • Economy
  • Travel
  • Tech
  • About Us

Copyright © 2023 Superpanda limited - Breaking news Turkey

Go to mobile version