Azerbaijan has significant potential for natural gas production, as well as for hydrogen production, said Péter Sztáray, Minister of State for Security Policy at Hungary’s Ministry of Foreign Affairs and Trade.

Speaking at the Baku Energy Week on Thursday, the Hungarian minister underscored the need to diversify the sources of transportation of natural gas, clean energy and hydrogen, News.Az reports.

According to him, it is necessary to increase investments in order to achieve these goals.

“Azerbaijan has significant potential for natural gas production, as well as for the future production of hydrogen. I believe that the creation and expansion of gas pipelines will allow us to diversify routes. Hungary has a large gas storage capacity and the country has already started filling it,” he said.

“The green corridor that is planned to be created is a fantastic project and we fully support its implementation and welcome the involvement of other investors in this project,” Sztáray added.

Azerbaijan, Georgia, Romania and Hungary signed a strategic partnership agreement on December 17, 2022, which provides, among other things, for the construction of an energy bridge from the Caucasus region to Europe.

It is expected to build an underwater electric cable Black Sea Energy with a capacity of 1000 MW and a length of 1,195 kilometers as part of the agreement reached. The cable will be intended for the supply of green electricity produced in Azerbaijan through Georgia and the Black Sea to Romania for subsequent transportation to Hungary and the rest of Europe.

News.Az