Ambassador: Hungary interested in gas supplies from south

Baku, May 6, AZERTAC “Energy security is a number one challenge for Hungary. We import 53% of energy we need, including 80% of gas coming from Russia,” Imre Laslotsky Ambassador of Hungary said during the meeting with the Caspian Energy representatives. Ambassador Laslotsky believes in this context Hungary seeks diversified supply sources and is interested in gas supplies from the south as well. “We are hopeful to also receive gas through interconnectors from the south. Many countries rely on this gas, but the essence of the Southern Gas Corridor (SGC) is that gas from Iran and Central Asia can be connected to it in the future. The SGC has a huge function, which has been achieved by Azerbaijan as the initiator of this major project. Not only Hungary but also all European countries, which seek diversified sources of supply, appreciate it,” said Laslotsky. He praised the investment climate in Azerbaijan. “Our leaders enjoy the trust-based relations. Since 2013 the bilateral relations have been developing in a more dynamic way. In 2014, President Ilham Aliyev visited Budapest, and the visit resulted in signing the strategic partnership agreement. Subsequently, high-level visits increased in number. During the recent visit of Prime Minister Viktor Orban the sides agreed to meet every year and share their views,” the Ambassador continued. “The areas where we will expand our cooperation are very important. My aspiration is to establish a joint investment fund for development of information and communication technologies. Hungary has a lot to offer in this area. We along with the major players in this market like India, Russia, USA, Canada and France can offer our services at the same level, but with a lower cost. To that end, the first steps have been taken during the recent visit of the Head of Government of Hungary to Baku,” he stressed. Hungary has opened a credit line worth over $200 million through the Hungarian ExImBank to fund joint projects. “We believe it is expedient and makes sense to establish joint ventures and consider it more reliable to work together with Azerbaijan companies,” he stressed.