Baku, Azerbaijan, Apr. 13
By Leman Zeynalova – Trend:
Georgia continues to support the Azerbaijan-Georgia-Romania Interconnector (AGRI) project, Georgia’s Deputy Prime Minister and Energy Minister Kakha Kaladze said in an interview with Trend.
The Georgian Oil and Gas Corporation JSC is assigned as a shareholder of AGRI LNG Project Company, which is a special purpose vehicle incorporated by the project participants, said Kaladze.
He recalled that in April 2015, shareholders of AGRI LNG Project Company approved the AGRI project feasibility study prepared by the UK-based Penspen LTD.
“Currently, the shareholders of AGRI LNG Project Company are negotiating the issues related to further development of the AGRI project.”
“Recently, the shareholders have been informed of the intention of the Hungarian shareholder [MVM] to rejoin the project,” added Kaladze.
He pointed out that transit projects add great value to Georgia’s economic development and energy security of the region.
“Georgia continues to actively support the development of different projects enabling expansion of energy transportation corridors for the Western markets, such as AGRI and other projects within the frame of the Trans-Caspian transport route,” said the minister.
Kaladze noted that Georgia is a crucial transit country for the Caspian oil and gas resources to reach the EU and world markets and is very much interested in increasing transit volumes for strategic and security purposes, as well as for a long-term economic development.
“Therefore, we especially welcome the development of plans of Azerbaijan and Kazakhstan, as well as Turkmenistan in connection with the Trans-Caspian International Transport Route’s implementation, which may ensure creation of additional oil and gas resource base from Central Asia for Southern Gas Corridor projects,” he added.
AGRI project envisages transportation of Azerbaijani gas to the Black Sea coast of Georgia via gas pipelines. Azerbaijani gas delivered to Georgia's Black Sea coast will be liquefied at a special terminal, and following this, it will be delivered in tankers to a terminal at the Romanian port of Constanta.
Further, it will be brought to gaseous state and sent via Romanian gas infrastructure for meeting the demands of Romania and other European countries.
The cost of the project can vary from 1.2 billion euros to 4.5 billion euros, according to the preliminary estimations.
The participants of the AGRI project are SOCAR, Georgia's Oil and Gas Corporation, as well as MVM of Hungary and Romgaz of Romania. The parties established the SC AGRI LNG Project Company SRL in February 2011 for the implementation of the project.
The Trans-Caspian International Transport Route runs through China, Kazakhstan, Azerbaijan, Georgia and then through Turkey and Ukraine to Europe.
In October 2016, Azerbaijan, Kazakhstan and Georgia signed an agreement on the establishment of an association of the Trans-Caspian International Transport Route with its office in Astana, Kazakhstan. The association’s activities are aimed at attracting transit and foreign trade cargo, as well as developing integrated logistics products via the Trans-Caspian International Transport Route.
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