Romania: Romania, Azerbaijan, Georgia to enter three-way natural gas partnership

February 18, 2010

Romania, Azerbaijan, Georgia to enter three-way natural gas partnership
Feb 18, 2010

Romania, Azerbaijan, Georgia to enter three-way natural gas partnership.
Bucharest, Feb 18 /Agerpres/ - Romania will conclude this March a tripartite partnership with Azerbaijan and Georgia to conduct a project called AGIR that will allow natural gas to be transmitted from Azerbaijan to Romania, via Georgia, state secretary with the Romanian Ministry of Economy, Commerce and Business Milieu (MECMA) Tudor Serban told a meeting on Thursday of Romanian diplomatic economic advisers deployed abroad.

'For the time being, there are partnerships concluded with both countries. A joint-stock company will also be established for the project,' Serban explained, adding that the project value may vary between 4 and 6 billion euros. The project will also include two terminals for liquefied gas petrol, one in Georgia and the other in Romania.

'In five year's time, Romania will become an energy hub in its geographical region thanks to this project,' said Serban.

He mentioned that carrying out the project will be the national gas corporations of the three countries - Romgaz of Romania, Socar of Azerbaidjan and Georgia's national natural gas corporation. They will join together in a business consortium to which another international company will be welcomed, possibly made up of more than one partner. The whole consortium will have to cover 90 percent of the project value.

Serban also said that Romania is interested in joining other regional gas pipeline projects.

'Romania has to come up with measurements in the Black Sea for the design of the pipelines. If Nabucco is carried out as planned, it will become the most representative project in which Romania participates, but that does not mean we are not waiting for more projects to develop around it,' said Serban.

The state secretary said that given all the natural gas transmission projects unveiled - Nabucco, South Stream, North Stream and White Stream - AGIR will have to find solutions to gas supplies and project costs. AGERPRES
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