MoU for Romanian-Azeri-Georgian gas transportation project is signed.

By bne IntelliNews April 14, 2010
The Memorandum of Understanding between Romania , Azerbaijan and Georgia for the development of a natural gas transportation project estimated at a size of 7bn cubic metres per year was signed in Bucharest by ministries of economy in the three countries. Given its size, the project is rather a supplement to Nabucco project that has a planned transfer rate of 31bn cubic metres per year. The cost of the project, to be developed by a joint company within a time span of one to three years depending on the financings availability, is estimated at EUR 2-4bn. The project involves two terminals for liquefied gas on the Georgian and Romanian shores of the Black Sea; the gas would further be transported towards Hungary and Bulgaria through existing) or nearly completed) pipelines. Other destinations of the methane-carrying ships are not ruled out, as implied by officials comments, but this depends on the ships ability to pass through Bosporus toward Mediterranean Sea (which is problematic given their size).

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