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SOCAR Head: Works are underway to create JV within Azerbaijan-Georgia-Romania Interconnector project

Oil&Gas Materials 1 June 2010 17:41
A working group within the Azerbaijan-Georgia-Romania Interconnector project, which envisages possibility of supplying the Azerbaijani liquefied gas through Georgia's Black Sea coast to Romania conducts operations to create the Azerbaijani-Georgian-Romanian joint venture, SOCAR head Rovnag Abdullayev said today.

Azerbaijan, Baku, June1 / Trend, E. Ismayilov /

A working group within the Azerbaijan-Georgia-Romania Interconnector project, which envisages possibility of supplying the Azerbaijani liquefied gas through Georgia's Black Sea coast to Romania conducts operations to create the Azerbaijani-Georgian-Romanian joint venture, SOCAR head Rovnag Abdullayev said today.

"We have already created a working group that deals with these issues, and in particular, works on establishment of the joint venture and the preparation of its regulations and statutes," Abdullayev said. The joint venture will operate in the Romanian territory.

Abdullayev noted that each of the participating sides depending on its share holding will allocate the necessary funds to prepare a feasibility study of the project.

Azerbaijani Industry and Energy Minister Natig Aliyev said earlier that a joint venture to oversee the implementation of a Georgian-Azerbaijani-Romanian project to transport Azerbaijani liquefied natural gas via the Black Sea to Romania will be created within a month.

Georgia, Azerbaijan and Romania have signed an agreement on the establishment of a joint venture in a project to transport Azerbaijani gas to Europe May 12.

The joint venture will serve as executor of the project. It will undertake all necessary procedures for announcement of tender to select contractors and attract funding.

Romania, Azerbaijan and Georgia signed a memorandum on liquefied gas transportation in Bucharest April 13.

The agreement involves liquefied gas deliveries from Azerbaijan through Georgia and Romania and the construction of two terminals for liquefied natural gas to Georgia and Romania.

In accordance with the memorandum, the parties expressed their intention to promote energy transit corridor connecting the Caspian region and Europe as a part of the Southern Corridor.

A decision was made to sell gas and use Romania's underground storage facilities, as well as to engage in research opportunities for increased cooperation between relevant energy agencies.

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