SOCAR Vice-President: "Project AGRI requires very large investment"

Baku. 19 November. REPORT.AZ/ Romania is the first country where the State Oil Company of Azerbaijan (SOCAR) invested. Report informs, vice-president of SOCAR on economic issues Suleyman Gasimov said.

According to him, official Baku prefers close cooperation with Bucharest: " Romania will also be the priority for Azerbaijan and SOCAR in the future".

S. Gasimov said Azerbaijan–Georgia–Romania Interconnector (AGRI) project requires a lot of time and money: The project has never stopped. It requires a very large amount of investment. In frame of the project two liquefied natural gas (LNG) terminals should be built. One of which in Georgian Black Sea area and the other in Constanta city of Romania falling into the same sea.

In the meantime, the SOCAR together with its foreign partners involved in the TAP and TANAP projects. "

Notably, memorandum on AGRI project signed in 2010, in Bucharest. Hungary joined the project later.