Hungary-Turkey Joint Economic Commission meet in Ankara
Péter Szijjártó, Minister of Foreign Affairs and Trade, said the Hungary-Turkey Joint Economic Commission met in Ankara on Thursday.
After the meeting, Minister Szijjártó acknowledged Turkey's role in ensuring Hungary's secure energy supply, noting that Hungary took delivery of over 21 million cubic metres of gas a day through the TurkStream pipeline. He added that those deliveries were set to climb by 750,000 cubic metres a day in July under an agreement between state-owned energy group MVM and Turkey's BOTAS.
Minister Szijjártó warned that a plan by European Commission President Ursula von der Leyen and Ukrainian President Volodymyr Zelensky to ban cheap Russian gas and crude from the European Union would cause Hungarian households' utility bills to double or triple.
Minister Szijjártó highlighted a strategic partnership between Hungarian oil and gas company MOL and Turkish peer TPAO that could boost MOL's role on markets in Europe and North Africa through joint upstream projects in Turkey, Syria and Libya. He added that MOL and TPAO were also partnering on oil field projects in Hungary.
He noted that a Turkish company was building a power plant in the east of Hungary.
Bilateral trade between Hungary and Turkey reached USD 4.4bn in 2025 and could climb over USD 5bn in 2025, Minister Szijjártó said.
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