BAKU, Azerbaijan, October 19. Romania’s Romgaz company and Azerbaijan’s state oil company SOCAR have signed a memorandum of understanding to start a feasibility study of building a liquefied natural gas (LNG) terminal in the Black Sea, Trend reports October 19 via Romanian media.
This would mean a corridor to Europe for the gas extracted by Azerbaijan from the Caspian Sea.
"Implementation will start with a feasibility study financed jointly by both parties. We will be able to supplement and complement the gas supply corridors from the Caspian Sea basin to Europe", said Romanian Prime Minister Nicolae Ciucă after the ceremony of signing.
Reportedly, the sides will explore the opportunity of jointly developing a liquefied natural gas project in the Black Sea. It is expected that this project will consist of a gas liquefaction plant, a regasification plant, as well as all other installations and facilities necessary for the transport of natural gas from the Caspian region to Romania.
---
Follow the author on Twitter: @Lyaman_Zeyn