Kazakhstan and Hungary Reach Agreement on Oil Supplies and Joint Energy Projects

Following a meeting on February 17 between Kazakh Energy Minister Almasadam Satkaliyev and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, Kazakhstan and Hungary have reached agreements on oil deliveries and collaborative energy projects. These include test shipments of Kazakh oil to Hungary and joint initiatives in the nuclear energy sector.

The discussion focused on the collaboration between KazMunayGas national oil and gas company and MOL Group, notably in the development of the Rozhkovskoye gas condensate field, where both companies are involved, The Caspian Post reports citing The Astana Times.

The ministers also addressed the logistics of Kazakh oil deliveries to Hungary through the Druzhba pipeline and agreed to initiate test shipments this year, reported the Kazakh Energy Ministry’s press service.

Kazakhstan expressed interest in Hungary’s expertise in producing dry cooling towers for nuclear power plants. Hungarian company MVM Group was identified as a key partner.

Satkaliyev emphasized the strategic importance of the partnership, noting the potential for expanding cooperation in both the oil and gas sectors and the peaceful use of nuclear energy.

“I am confident that joint efforts will contribute to the sustainable development of the energy systems of our countries and strengthening energy security,” he said.