Azerbaijan, Baku, Feb. 14 / Trend N.Kirtzkhalia /
Azerbaijan, Georgia, Hungary and Romania signed "A Joint Declaration" on the Azerbaijan-Georgia-Romanian Interconnector (AGRI) project in Bucharest on Monday, under which Hungary has become its full member, the Georgian Energy Ministry told Trend. This project involves the supply of Azerbaijani liquefied gas via the Black Sea to Romania.
Several important issues on the development of AGRI LNG Project have been considered during the ministerial meeting. The ministerial was attended by Romanian Minister of Economics, Trade and Business Environment Ion Ariton, Azerbaijani Industry and Energy Minister Natig Aliyev and Hungarian National Development Minister Tamas Fellig, aswell ascompanies, project partners - SOCAR (Azerbaijan), GOGC (Georgia), MVM (Hungary) and "Romgas" (Romania).
The Romanian Economics, Trade and Business Environment Ministry told Trend that the signed document specifies the need to finalize the feasibility study on the AGRI project no later than April 1, 2012, as well as stressed the need to support the companies participating in the project in attracting the necessary funding for the feasibility study.
The paper notes that under the increased work means finding the shortest route of delivery of Azerbaijani gas to European markets, the creation of Interconnector Romania - Hungary (Arad-Szeged).
Earlier, the joint venture was registered in Romania within the AGRI project. The joint company will prepare a feasibility study of the new project and seek funding. The company is being established in Romania. The participants are Azerbaijani, Romanian and Georgian sides.
The capacity of the AGRI Project is considered in three variants - two billion cubic meters of gas per year, five billion cubic meters and eight billion cubic meters. According to preliminary data, depending on the capacity of the project, the cost varies from 1.2 billion to 4.5 billion euros.
Azerbaijan, Georgia, Romania and Hungary signed the Baku Declaration on the draft AGRI on Sept. 14 in Baku.
The AGRI project envisages transporting Azerbaijani gas via pipelines to the Black Sea coast of Georgia, where the gas will be liquefied at a special terminal. The gas will then be delivered to a terminal at the Romanian port of Constanta via tankers. Later, the liquefied gas will be brought into the state of natural gas and will be directed towards covering the needs of Romania and other European countries.