Hungarian energy company MVM is eager to contribute to Azerbaijan’s renewable energy projects and sees the Black Sea green energy corridor as a vital step for regional energy diversification.
Hungary’s state-owned energy firm MVM has expressed a strong interest in joining Azerbaijan’s renewable energy initiatives. Speaking at the “Innovative Pathways to a Greener Future” event, MVM CEO Károly Mátrai highlighted the company’s desire to share expertise and explore business opportunities in Azerbaijan’s green energy sector.
Mátrai described the planned green energy corridor under the Black Sea as strategically important for Hungary, drawing a parallel to the Shah Deniz gas project, which previously helped diversify Hungary’s gas supply. The new corridor, he said, offers similar strategic value—this time in the electricity market.
He noted that Hungary currently imports 20–25% of its electricity, depending on weather conditions, due to insufficient domestic production. The green energy corridor, which would connect the Caspian region to Europe, could offer a reliable and cost-effective energy source.
Mátrai also emphasized the broader impact of the project, particularly in the Balkans, where electricity prices can be extremely volatile due to limited generating capacity. The availability of Azerbaijani electricity, he argued, could help lower regional energy costs and enhance overall stability.
UN Secretary-General António Guterres on Thursday warned that the humanitarian situation in the Gaza Strip has reached a critical level and called fo...
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The Russian Ministry of Defence announced on Thursday that Major General Mikhail Gudkov, praised and appointed to the Navy’s top post by President V...
The US House of Representatives approved a significant tax-cut and spending bill on Thursday, passing it by a narrow margin of 218 to 214. The legisla...
UN Secretary-General António Guterres on Thursday warned that the humanitarian situation in the Gaza Strip has reached a critical level and called for an immediate and lasting ceasefire. He emphasised that vital infrastructure is on the verge of collapse due to a severe fuel shortage.
The European Commission has put forward a proposal allowing carbon credits purchased from developing countries to be counted towards the EU’s 2040 climate target for the first time. The move, announced on Wednesday, has drawn criticism from campaigners and some scientists.
Russian President Vladimir Putin reiterated Moscow’s readiness to continue peace negotiations with Ukraine during a telephone conversation with US President Donald Trump on Thursday, Kremlin aide Yury Ushakov confirmed.
The Russian Ministry of Defence announced on Thursday that Major General Mikhail Gudkov, praised and appointed to the Navy’s top post by President Vladimir Putin in March, has been killed during combat operations.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
At least seven people remain missing following a massive explosion at a fireworks warehouse in the town of Esparto, Northern California, according to a report by NBC News citing local officials.
A delegation from Azerbaijan, led by MP Qaya Məmmədov, took part in the annual session of the Organisation for Security and Cooperation in Europe Parliamentary Assembly (OSCE PA), held from 28 June to 3 July in Porto, Portugal.
Chinese scientists have unveiled PlantGPT, the first large language model-based artificial intelligence designed specifically for plant functional genomics.
UN Secretary-General António Guterres on Thursday warned that the humanitarian situation in the Gaza Strip has reached a critical level and called for an immediate and lasting ceasefire. He emphasised that vital infrastructure is on the verge of collapse due to a severe fuel shortage.
The US House of Representatives approved a significant tax-cut and spending bill on Thursday, passing it by a narrow margin of 218 to 214. The legislation has now been sent to President Donald Trump for his signature.
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