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Romania, Azerbaijan and Georgia to sign memorandum for carrying natural gas

13 April 2010 13:12 (UTC +04:00)

The memorandum of understanding will be signed by Romanian Minister of Economy, Trade and Business Environment Adriean Videanu, Minister for Industry and Energy of the Republic of Azerbaijan Natig Aliyev and Georgian Minister of Energy Alexander Khetaguri, according to a release issued by the Ministry of Economy, Trade and Business Environment (MECMA).

Romania concluded partnerships for carrying out the above-mentioned project both with Azerbaijan and with Georgia. A joint venture is to be set up for carrying natural gas.

’For the time being we have partnerships with both countries. A joint venture for this project will be set up,’ said Secretary of State with MECMA Tudor Serban recently. He added that the value of the project might range between four and six billion euros. The project will include a terminal for liquefied gas in Georgia and one in Romania. The national companies Romgaz, Socar from Azerbaijan and the national gas company of Georgia will take part in the implementation of this project. They will belong to a consortium to be joined by an international company that might also be made up of several partners. The whole consortium will have to have money enough to cover 90 percent of the project.