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Bucharest to host next meeting of AGRI project participants

25 May 2011 09:54 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Meeting of Ministers of Economy and Energy of the countries participating in the project AGRI - Azerbaijan, Romania and Hungary, Georgia, as well as the regular meeting of the managing company AGRI LNG Co., created for this project, will be held on May 26-27, in Bucharest.

Presentations by companies and organizations interested in this project will be heard, and discussions on agreement of action program and budget for 2011-2012 will be conducted at the meeting. Azerbaijan will be represented by the Minister of Industry and Energy Natig Aliyev, deputy vice-president of SOCAR, a member of board of directors of AGRI LNG Vitali Baylarbayov.

Remind that, on September 14, 2010, Azerbaijan, Georgia, Romania and Hungary signed the Baku Declaration on AGRI project. The project involves transporting of Azerbaijani natural gas through pipelines to the Black Sea coast of Georgia, where the gas will be liquefied at a special terminal, and then shipped by tanker to the terminal in the Romanian port of Constanta. Next, the liquefied gas will be contained in the state of natural gas and using the available in the country’s gas infrastructure will be directed to the needs of Romania and other European countries.

According to preliminary estimates, this project will cost â‚¬1.2-4.5 billion - depending on the power terminals, which could reach 2-8 billion cubic meters of gas per year. The project is expected to realize within 2 years.