Azerbaijan, Romania to boost co-op in gas transportation

Oil&Gas Materials 19 July 2016 17:23 (UTC +04:00)

Baku, Azerbaijan, July 19

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR and Romania’s state-owned company Transgaz agreed to step up cooperation in the natural gas transportation, SOCAR said in a message July 19.

The two sides signed a memorandum of understanding during a meeting of SOCAR President Rovnag Abdullayev with Romanian delegation that included the member of the European Parliament Ramona Nicole Manescu, Transgaz Board Chairman Ion Sterian and Director for the Division of European Funds and International Relations Octavian Ciprian Alic.

“The memorandum of understanding (MOU) between SOCAR and Transgaz envisages strengthening cooperation in the gas transportation, studying opportunities to use Romania’s potential in the gas transit and distribution at the expense of gas supplies from Azerbaijan, the Caspian region and other promising directions, jointly studying the possibilities of cooperation in the supply and trading of natural gas and liquefied natural gas (LNG) in the Romanian market on the basis of long-term contracts and spot trading as part of the AGRI (Azerbaijan-Georgia-Romania Interconnector) project,” says the message.

The MOU will also give an opportunity to deepen cooperation between the two countries’ companies and to expand their activities in the gas market of Southeast Europe and the Balkan region.


Follow the author on Twitter: @MaksimTsurkov