Feasibility study for AGRI project, almost finalized

The feasibility study for the natural gas transport project (AGRI) from Azerbaijan to Romania is to be finalized during the first half of this year, the parties are to decide afterwards if they start the investment, a release from the Economy Ministry informs.

Economy Minister Constatin Nita met in Bucharest, on April 14, the Azerbaijani Minister of Energy Natiq Aliyev and the management of the Azeri state company SOCAR. The most important issues discussed were related to the AGRI project, investment opportunities in Romania and the development of joint Azeri-Romanian projects in the economic field.

“Europe faces countless challenges related to the sources of supply to ensure energy security, maintaining industry and economy competitiveness and infrastructure development. SOCAR is experienced and has international expertise in developing major projects, in this way being able to contribute to reaching the European objectives in the field of energy,” SOCAR president Rovnag Abdullayev(photo) said.

AGRI is aimed at supplying natural gas through pipes from Azerbaijan to Georgia, liquefying the gas in a terminal to be built on the Georgian shore of the Black Sea and then to be transported by sea to Romania.

The project is considered the most economical way of transporting natural gas from the Caspian Sea and Central Asia to Europe, on the route Baku – Kulevi - Constanta. The natural gas is to be liquefied in Kulevi and then transported across the Black Sea to Constanta. In an LNG terminal in Constanta the gas is to be de-liquefied. Estimates show the project could cost up to 4-4.5 billion Euros and will have a capacity of some 8 billion cubic metres of natural gas.

Constructions could be finalized in one or two years after the feasibility study is ready. The shareholders are: Romgaz (Romania), Georgian Oil and Gas Corporation (Georgia), State Oil Company of Azerbaijan Republic (Azerbaijan) and MVM (Hungary). Each shareholder has the same number of shares representing 25 percent of the company’s social capital.

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June 2017