AGRI Project Feasibility Requires Bosfor Transit Talks With Turkey

05.05.2011 By Andrei Circhelan

Natural gas delivered through the three-state AGRI route might cost more than the gas Romania imports from Russia, which pins the project’s feasibility on Bosfor transit negotiations with Turkey, Romanian economy ministry official Corneliu Condrea said Thursday.

The investment in the "Azerbaijan-Georgia-Romania Interconnector", or AGRI, gas pipeline is estimated between EUR1.2 billion and EUR4.5 billion, depending on transport capacity.

"The price of gas may be higher than the ones for imports from Russia. This project's feasibility will be decided following the feasibility study," said Condrea.

He added the feasibility study recommends that AGRI shareholders negotiate with Turkey transit through the Bosfor straits, through which ships would bring gas from Azerbaijan to southeastern Romanian harbor Constanta.

The feasibility study is set for completion in the second quarter of 2012.