Azerbaijan, Baku, March 18 / Trend /
Azerbaijani Industry and Energy minister Natik Aliyev met with Romanian Foreign Minister Teodor Bakonsky today in Baku, the Ministry spokesman Azer Mensimli said.
During the meeting the sides discussed cooperation in energy sphere, as well as issues of Azerbaijani gas export via the Nabucco project and new Azerbaijan-Georgia-Romania route.
The Nabucco project envisages the gas transportation from the Caspian region and the Middle East to EU. Nabucco gas pipeline project is worth €7.9 billion. Participants of the project are Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE companies. Each of participants has equal share to the amount of 16.67 percent. Construction of gas pipeline is planned to be launched in 2011, the first supplies - in 2014. Maximal capacity of the pipeline will hit 31 billion cubic meters per year. Nabucco Gas Pipeline International shareholders will invest 30 percent of total cost of the project, the rest 70 percent will be paid owing to loans.
Today, a terminal is being constructed to process Azerbaijani gas on Georgia's Black Sea coast (SOCAR owns the Kulevi oil terminal). Talks are underway to transport the energy by ship to Romania or Bulgaria for onward dispatch to the domestic gas pipeline network in Europe. The project is considered in two directions - LNG and CNG. The matter deals with 7-20bln cubic meters of gas.