State Oil Co. of Azerbaijan President Rovnag Abdullayev greeted Hungarian Prime Minister Ferenc Gyurcsany to search for common grounds to bring Azeri natural resources to the European Union, the Azerbaijan Business Center reported Tuesday.

"Azerbaijan is ready to provide its territory for gas transit from the Caspian countries to the EU," the president said.

Abdullayev welcomed Gyurcsany with a summary of Azeri natural resource opportunities, including the Shah Deniz natural gas field, as an incentive to expand energy cooperation.

Both sides also discussed a possible joint relationship concerning the Nabucco natural gas pipeline carrying resources through Turkey to European markets.