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Hungary signs on AGRI project

National Development Minister Tamás Fellegi confirmed Hungary’s participation in the Azerbaijan-Georgia-Romanian Interconnector (AGRI) project, becoming a full member of the investments. AGRI involves the supply of Azerbaijani liquefied gas (LPG) via the Black Sea to Romania.

Following the signing, the feasibility study of the investment is set to be completed by April 1, 2012.

The capacity of the AGRI is considered in three variants - two billion cubic meters of gas per year, five billion cubic meters and eight billion cubic meters. According to initial calculations costs vary depending on the eventual capacity from €.2 billion to €4.5 billion.

The AGRI project’s corporate partners are SOCAR (Azerbaijan), GOGC (Georgia), MVM (Hungary) and Romgas (Romania). (BBJ)