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.