Budapest, 4 December 2025 – Ambassador of the Republic of Kazakhstan Abzal Saparbekuly met with Mr. Péter Holica, Deputy State Secretary for EU and International Relations of the Ministry of Energy of Hungary, to discuss the strengthening of the Kazakhstan-Hungary partnership in the energy sector.

The parties held an in-depth discussion on the current state and prospects of cooperation in the oil and gas industry. The Kazakh side highlighted the successful development of its partnership with the Hungarian company «MOL» Group. In particular, the participants recalled that in 2024 «KazMunayGas» and «MOL Group» signed a strategic agreement to expand cooperation in the fields of production, technology, and petrochemicals. In 2025, the partnership developed further: in July-August, the first shipments of Kazakh oil were delivered to Hungary via Croatia through the Adria pipeline, amounting to 85 thousand tones.

A separate area of discussion focused on cooperation in the peaceful use of nuclear energy and green energy. The Kazakh side emphasized the promising prospects for collaboration with MVM Group, one of Hungary’s largest energy companies.

The participants also discussed investment cooperation. Both sides noted that Hungary is an important investment partner of Kazakhstan, with the total inflow of direct Hungarian investments exceeding 409 million USD. They underlined the steady growth of joint projects, including those in the energy sector. It was noted that the establishment of the Kazakhstan-Hungary Joint Investment Fund with an initial capital of 100 million USD has become a key milestone in bilateral cooperation, while the current portfolio of joint projects is estimated at approximately 700 million USD.

During the meeting, both sides praised the role of the Joint Intergovernmental Commission, which in recent years has become an important platform for discussing pressing economic issues. The Kazakh side expressed hope that the ninth meeting of the Intergovernmental Commission will be held in Astana next year and will serve as a significant step toward further intensifying trade, economic, and investment cooperation.

Following the talks, the parties reaffirmed their readiness to further deepen the strategic partnership, expressed satisfaction with the progress achieved, and stressed the importance of consistently expanding bilateral dialogue. Kazakhstan and Hungary intend to continue their joint efforts to strengthen economic, investment, and energy cooperation, thereby creating a solid foundation for long-term development and mutual benefit for both countries.

Source : https://www.gov.kz/memleket/entities/mfa-budapest/press/news/details/1120192?lang=kk