Neighbors Gulp on LNG as Bulgaria Slumbers

Business » ENERGY | September 21, 2010, Tuesday // 10:38
Bulgaria: Neighbors Gulp on LNG as Bulgaria Slumbers

Hungary, Romania, Georgia and Azerbaijan joined forces in a project to deliver liquified natural gas (LNG) from Azerbaijan to Romania and on to Hungary through Georgia.

September 14 Azerbaijani, Georgian and Romanian representatives signed in Baku a memorandum of understanding to create a joint company for the Azerbaijan-Georgia-Romania Interconnector (AGRI) project.

Then this week Euractiv reported that Hungary has announced it might join the project, which would lead to each of the four participants having 25% of the joint company.

The AGRI signing has been heralded by Azeri President Ilham Aliyev as "historic."

Bulgaria has long recognized Azerbaijani natural gas as an important source for its domestic needs, but is nevertheless falling behind neighbor Romania in the securing and realization of supplies.

Azerbaijan and Bulgaria have set a deadline of 2011 for the first shipments of Azeri natural gas.

There are two projected transit routes between the two countries – one via pipelines going through Georgia and Turkey, and another one through compressed gas terminals and shipments through the Black Sea.

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Tags: natural gas, Russia, Georgia, azerbaijan, Ilham Aliyev, Romania, Hungary, liquefied natural gas, LNG

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