Turkey Makes Historic Natural Gas Export Deal with Hungary

In a significant development, Turkey has inked an unprecedented agreement for its inaugural natural gas export to a European nation beyond its bordering countries. This groundbreaking deal was confirmed during a one-day visit by President Recep Tayyip Erdogan and a delegation of ministers to Hungary. Alparslan Bayraktar, the Minister of Energy and Natural Resources, provided an official statement affirming the deal's authenticity.

Bayraktar revealed that Turkey will engage in natural gas exports to Hungary through a bilateral natural gas agreement that has been officially signed by both nations.

Following their trip from Budapest, President Erdogan engaged with journalists aboard the presidential plane. He emphasized Turkey's extensive and profound relationship with Hungary, a strategic partner and NATO ally. This alliance is founded upon a history of robust and unwavering friendship.

Erdogan acknowledged Hungary's steadfast support and solidarity with Turkey, particularly following the seismic disasters that struck Turkey's southeast in early February. He recalled the visit of Hungary's counterpart, Katalin Novak, to Turkey in March, highlighting the nation's support during the difficult times.

The natural gas agreement, signed between the Turkish Petroleum Pipeline Corporation (BOTAS) and Hungary's MVM company, is set to bring about a pivotal change. This agreement will facilitate the export of natural gas to a European nation that is not a direct border neighbor, marking a significant accomplishment for Turkey's energy contributions to Europe.

Minister Bayraktar also shared his thoughts on social media, emphasizing the importance of this agreement in bolstering Europe's energy security.

The agreement, formalized by BOTAS, was signed by BOTAS General Manager Burhan Özcan and MVM CEEnergy Senior Manager Laszlo Fritsch. The signing took place under the auspices of Minister Bayraktar and the Hungarian Ministry of Energy's Public Administration undersecretary.

The commencement of natural gas shipments from Turkey to Hungary is expected to take place in the upcoming year. The agreement is poised to encompass collaborative efforts involving the utilization of Turkey's liquefied natural gas (LNG) infrastructure and the shared natural gas storage facilities of both countries.

Although specific details about the export volume are absent from the statement, this development follows Turkey's prior agreement with Bulgaria in January, which enabled the transmission of up to 1.5 billion cubic meters of natural gas annually for a 13-year period.

President Erdogan's one-day visit to Budapest included participation in Hungary's National Day celebrations and attendance at the World Athletics Championships. The President was accompanied by a delegation including Foreign Minister Hakan Fidan, various ministers, and advisers.

Notably, Turkey's relationship with Hungary was elevated to a strategic partnership level in 2013 through the establishment of the High-Level Strategic Cooperation Council. The growing friendly relations have led to substantial advancements in various fields, notably exemplified by the record bilateral trade volume of $3.5 billion achieved in 2022.

President Erdogan expressed optimism about further progress and closer collaboration, aiming to achieve a $6 billion trade volume through joint efforts. The President concluded his visit after separate meetings with Hungarian President Katalin Novak and Prime Minister Viktor Orban, discussing bilateral ties and broader global and regional developments.