Baku, Azerbaijan, Jan. 28
By Emil Ismayilov - Trend:
Hungarian MOL Group is ready to cooperate with Azerbaijani companies in the spheres of exploration, development and marketing of hydrocarbons, according to a protocol signed on Jan.28 in Baku on the results of a meeting of the Azerbaijani-Hungarian intergovernmental commission for trade and economic cooperation.
Additionally, during the meeting of the intergovernmental commission, the parties agreed on studying the possibilities of enhanced cooperation within the Southern Gas Corridor, Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipeline projects, as well as the Azerbaijan-Georgia-Romania Interconnector (AGRİ) project envisaging the transportation of liquefied gas from the Caspian Sea region to Europe.
In accordance with the protocol, it is planned to organize a meeting of the working group of the commission for energy in the near future.
Southern Gas Corridor is a project which will allow Europe to diversify its hydrocarbon supply sources and to enhance its energy security while Azerbaijan gets Europe as a new market. A final investment decision on the second phase of development of the Shah Deniz gas condensate field of Azerbaijan was adopted on December 17, 2013.
Gas within the second stage of development of the field will be exported to Turkey and the European markets by expanding the South Caucasus gas pipeline and construction of the Trans-Anatolian and Trans-Adriatic (TAP) gas pipelines.
Translated by L.Z.
Edited by C.N.