Hungarian Conservative

The Hungarian MVM Group is set to buy a stake in Shah Deniz, one of the world’s largest natural gas fields, in Azerbaijan. This move will significantly strengthen Hungary’s energy supply and represents another major step towards independence from Russian energy sources.

The Eastern Opening policy has greatly enhanced Hungary’s ability to diversify its natural gas import sources and the commencement of Turkish natural gas deliveries on April 1st, 2024, will amplify this policy’s effectiveness. For further diversification, there’s an emphasized need for a firmer commitment to boost imports from Azerbaijan and Turkmenistan.