Kazakhstan and Hungary have reached a preliminary agreement on the supply of Kazakh crude oil to Hungary via the Druzhba (Friendship) oil pipeline system through Russia.
According to Kazakhstan’s Ministry of Energy, the agreement was reached during a meeting in Astana on February 17 between Kazakhstan’s Minister of Energy Almasadam Satkaliyev and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó. The two sides agreed to conduct test oil shipments in 2025.
Kazakhstan already supplies oil to Germany through the Druzhba pipeline.
The ministers also discussed cooperation between Kazakhstan’s national oil and gas company, KazMunayGas, and Hungary’s MOL Group in developing the Rozhkovskoye gas condensate field in western Kazakhstan. MOL Group has invested $200 million in the development of this major field and has previously expressed interest in processing Kazakh oil at Hungarian refineries.
On the same day in Astana, Szijjártó held talks with Kazakhstan’s Deputy Prime Minister and Minister of Foreign Affairs Murat Nurtleu.
The foreign ministers reviewed trade and economic relations, noting that bilateral trade turnover increased by 4.4% last year, reaching nearly $200 million. Both sides agreed to take additional measures to achieve the goal set by their leaders, to expand trade to $1 billion, according to Kazakhstan’s Foreign Ministry.
Key topics of discussion included:
- The opening of Hungarian bank branches in Kazakhstan
- The construction of a multimodal cargo terminal in Budapest
- Expanding exports of Kazakh uranium and critical minerals
The ministers also highlighted plans to launch a direct air connection between Shymkent, Kazakhstan’s third-largest city, and Budapest in May 2025. The new route is expected to further strengthen economic and cultural ties between the two nations.
Since 2005, Hungarian direct investments in Kazakhstan have exceeded $370 million, reflecting the deepening economic partnership between the two countries.
