Türkiye, Hungary to Renew Gas Deal for 2025-2026

Praising the earlier deal, Fritsch said: “It was quite a pleasure to be one of the parties who signed the agreement last year in terms of gas cooperation between MVM Group of Hungary and BOTAS Group from Türkiye.”

Photo: Reuters

Ankara and Budapest will renew a natural gas export deal between the two countries, a senior Hungarian energy official said.

“The further cooperation with (Turkish energy company) BOTAS is very important. We are working currently to renew last year's agreement,” said Laszlo Fritsch, the CEO of Hungary’s state-owned energy company MVM CEEnergy, on the sidelines of the Istanbul Energy Forum, organized by Anadolu under the auspices of the Energy and Natural Resources Ministry, The Caspian Post reports, citing Anadolu Agency.

Fritsch was referring to a 2023 deal between the Turkish Petroleum Pipeline Corporation (BOTAS) and Hungary’s MVM in which Türkiye began natural gas shipments via pipeline to Hungary, its first European country destination that is not one of Türkiye's neighbors.

“We would like to further cooperate with BOTAS and to increase the volumes for the future,” he added.

Fritsch said that Hungary aims “to reach a deal by the end of this year” stretching into the years to come.

Praising the earlier deal, Fritsch said: “It was quite a pleasure to be one of the parties who signed the agreement last year in terms of gas cooperation between MVM Group of Hungary and BOTAS Group from Türkiye.”

“I think it was a milestone because as far as I know, we were the first one who actually signed an agreement with BOTAS regarding gas deliveries outside Türkiye,” he added.

“It was quite important for us,” he explained. “Because basically, it opens the gate to a new cooperation.”

“For us, the Central Eastern European region is quite important,” he said. “We have great plans. And obviously, Türkiye and BOTAS became a huge player in the market.”

“BOTAS can be the gatekeeper and can be not only a virtual but a physical hub for the whole region,” he explained.