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Hungarian, Georgian PMs agree on importance of AGRI pipeline

Prime Minister Viktor Orbán and his Georgian counterpart Nika Gilauri agreed on the importance of establishing a pipeline that will transport liquefied natural gas (LNG) from Azerbaijan to Central Europe via the Black Sea and Romania, Prime Minister's spokesman Péter Szijjártó said on Thursday.

The state-owned Hungarian Electricity Works (MVM) became a shareholder in AGRI LNG, the project company for the pipeline, a year ago. MVM shares ownership of the company with Romania's ROMGAZ, the Georgian Oil and Gas Corporation (GOGC) and the State Oil Company of Azerbaijan Republic (SOCAR).

The pipeline is expected to cost €4 billion - 6 billion to build. It will have annual capacity of 7 billion cubic meters, Econews reported earlier.

The National Economy Ministry said on Thursday that Hungarian and Georgian business representatives held a forum during Gilauri's visit to Budapest. 

National Economy Minister György Matolcsy and his Georgian counterpart Dimitri Gvindadze signed a double taxation avoidance agreement on Thursday.