Romania Signs Four-State Declaration Backing AGRI Gas Pipeline

Romanian President Traian Basescu said Tuesday in Azeri capital Baku that Europe could receive Azeri natural gas, through the AGRI project, within three years.

"This is the most cost-effective project among the alternatives discussed for the transfer of gas from the Caspian Sea and Central Asia to Europe," Basescu said regarding Azerbaijan-Georgia-Romania Interconnector (AGRI).

The Romanian president added the investment cannot be quantified yet, and "The price is flexible, with costs that will be regulated by the needs of the European market, as well as by the available resources. However, it is certain that the first phase of the project will bring gas from Azerbaijan."

Furthermore, according to Basescu, once the feasibility study is complete, there will be talks on the European financing of the investment.

The four states signing the statement committed to bring the study to a project level, after which there will be talks with private companies.

The AGRI project aims to bring liquefied natural gas from the Caspian Sea to Europe and to build two natural gas terminals in Tbilisi and Constanta.

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