revista presei pe energie 15 februarie – part II

2011/02/15

Bloomberg: AGRI Liquefied Gas Project May Cost 5 Billion Euros

The Azerbaijan-Georgia-Romania- Interconnection liquefied natural gas project will cost 2 billion euros ($2.69 billion) to 5 billion euros, said Natig Aliyev, Azerbaijan’s energy minister.

The two LNG terminals planned for the project could supply as much as 8 billion cubic meters of gas, Aliyev said today after a meeting in Bucharest with shareholders of the project known as AGRI. MVM Rt., Hungary’s electricity producer and distributor, will enter the project by the end of the month, AGRI Chairman Corneliu Condrea also said.

The three countries in the project, as well as Hungary, agreed in September to form the venture to secure LNG supplies to central European customers from the Caspian Sea. The accord bolsters the drive in the European Union to diversify energy supplies and ease dependence on Russian gas.

“The final cost of the project will depend on the volumes of gas transported,” Aliyev said. “We need one year to prepare all the works including the feasibility study and if we combine the financing scheme, then the construction of the elements could take from 1 year to 2 years.”

The study for the project may cost 15 million euros, according to Aliyev.

AGRI’s shareholders are analyzing possible financing sources, including private banks and international institutions such as the European Investment Bank and the European Bank for Reconstruction and Development, Condrea said.

Aliyev said that Azerbaijan plans to increase its gas output to 60 billion cubic meters from 30 billion cubic meters, enabling it to supply both AGRI and the planned Nabucco pipeline. Nabucco, in planning since at least 2004, would supply gas from the Caspian and Middle East region to Austria via Turkey.

“Azerbaijan supports all southern gas corridors, including AGRI, and that’s why we are now in a position to provide these projects with natural gas,” Aliyev said. “We are looking for new markets.”

trend.az: Hungary joins AGRI gas project

AzerbaijanGeorgiaHungary andRomania signed “A Joint Declaration” on the Azerbaijan-Georgia-Romanian Interconnector (AGRI) project in Bucharest on Monday, under which Hungary has become its full member, the Georgian Energy Ministry told Trend. This project involves the supply of Azerbaijani liquefied gas via the Black Sea to Romania.
Several important issues on the development of AGRI LNG Project have been considered during the ministerial meeting. The ministerial was attended by Romanian Minister of Economics, Trade and Business Environment Ion Ariton, Azerbaijani Industry and Energy Minister Natig Aliyev and Hungarian National Development Minister Tamas Fellig, aswell ascompanies, project partners – SOCAR (Azerbaijan), GOGC (Georgia), MVM (Hungary) and “Romgas” (Romania).
The Romanian Economics, Trade and Business Environment Ministry toldTrend that the signed document specifies the need to finalize the feasibility study on the AGRI project no later than April 1, 2012, as well as stressed the need to support the companies participating in the project in attracting the necessary funding for the feasibility study.

The paper notes that under the increased work means finding the shortest route of delivery of Azerbaijani gas to European markets, the creation of Interconnector Romania – Hungary (Arad-Szeged).

Earlier, the joint venture was registered in Romania within the AGRI project. The joint company will prepare a feasibility study of the new project and seek funding. The company is being established in Romania. The participants are Azerbaijani, Romanian and Georgian sides.

The capacity of the AGRI Project is considered in three variants – two billion cubic meters of gas per year, five billion cubic meters and eight billion cubic meters. According to preliminary data, depending on the capacity of the project, the cost varies from 1.2 billion to 4.5 billion euros.

Azerbaijan, Georgia, Romania and Hungary signed the Baku Declaration on the draft AGRI on Sept. 14 in Baku.

The AGRI project envisages transporting Azerbaijani gas via pipelines to the Black Sea coast of Georgia, where the gas will be liquefied at a special terminal. The gas will then be delivered to a terminal at the Romanian port of Constanta via tankers. Later, the liquefied gas will be brought into the state of natural gas and will be directed towards covering the needs of Romania and other European countries.

Novinite: Hungary Lured into AGRI Natural Gas Pipeline Project

Hungary has joined the AzerbaijanGeorgiaRomania-Interconnection (AGRI) liquefied natural gas project, which is to build a pipeline to Central Europe.

AzerbaijanGeorgiaHungary and Romania signed “A Joint Declaration” on theAzerbaijanGeorgia-Romanian Interconnector (AGRI) project in Bucharest on Monday, under which Hungary has become its full member, the Georgian Energy Ministry told the Baku-based Trend news agency.

The ministerial was attended by Romanian Minister of Economics, Trade and Business Environment Ion Ariton, Azerbaijani Industry and Energy Minister Natig Aliyev and Hungarian National Development Minister Tamas Fellig, as well as companies, project partners – SOCAR (Azerbaijan), GOGC (Georgia), MVM (Hungary) and “Romgas” (Romania).

The document signed Monday in Bucharest specifies the need to finalize the feasibility study on the AGRI project no later than April 1, 2012. It outlines the shortest route of delivery of Azerbaijani gas to European markets, i.e. the creation of Interconnector Romania – Hungary (Arad-Szeged).

The AzerbaijanGeorgiaRomania-Interconnection liquefied natural gas project will between EUR 2 B and EUR 5 B, according to Azerbaijan‘s Energy Minister Natig Aliyev.

The two LNG terminals planned for the project could supply as much as 8 billion cubic meters of gas, Aliyev said today after a meeting in Bucharest with shareholders of the project known as AGRI. MVM Rt., Hungary‘s electricity producer and distributor, will enter the project by the end of the month, AGRI Chairman Corneliu Condrea also said.

“The final cost of the project will depend on the volumes of gas transported,” Aliyev said as cited y Bloomberg. “We need one year to prepare all the works including the feasibility study and if we combine the financing scheme, then the construction of the elements could take from 1 year to 2 years.”

Aliyev said that Azerbaijan plans to increase its gas output to 60 billion cubic meters from 30 billion cubic meters, enabling it to supply both AGRI and the plannedNabucco pipeline.

Azerbaijan supports all southern gas corridors, including AGRI, and that’s why we are now in a position to provide these projects with natural gas,” Aliyev said. “We are looking for new markets.”

The three countries in the project, as well as Hungary, agreed in September to form the venture to secure LNG supplies to central European customers from the Caspian Sea as Romania has proven to be much more insightful and successful than Bulgaria, which has also made half-hearted attempts to subscribe Azerbaijan andGeorgia to a similar liquefied natural gas deal.

While Bulgaria’s talks with the two Southern Caucasus states to secure natural gassupplies are technically continuing, it is nowhere near the achievement of its northern neighbor Romania, which is not just going to receive LNG from them but will also become a transit country.

centralasianewswire.com: Western Nabucco negotiators push for contracts by March

The European negotiators behind the proposed Nabucco pipeline, which aims to transport Central Asian gas across the Caspian Sea to the West, hope to have concrete agreements in place by the end of March.

“We now need to have concrete commitments of volumes this quarter. Then we can start the open season in the second half to start acquiring rights of way. We would start spending quite a lot of money,” the United Press International (UPI) on Tuesday reported Stefan Judisch, chief executive of RWE Supply and Trading, as saying in an interview with the Financial Times. RWE Supply and Trading is one of the firms working to realize the Nabucco pipeline.

Judisch said European Nabucco partners are negotiating with all potential suppliers.

“Nabucco is all about diversity of supply,” Judisch said, adding that negotiations are under way with Azerbaijan and the Kurdish province of Iraq.

“They need to tell us how much gas is available, and when,” he said.

Turkmenistan is also viewed as a main potential supplier and has indicated its desire to supply the line.

Last month, the European Energy Commissioner Gunther Oettinger and European Commission President Jose Manuel Barroso visited the Turkmen capital Ashgabat to negotiate terms with Turkmen officials.

The Nabucco pipeline would run through territories not controlled by Russian and break Russia’s near monopoly on Western gas exports.

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