How Romania will supply gas to Austria ahead of Nabucco

The first project that will bring gas from the Caspian region
to Western Europe will be the one carried out at the initiative of
Romania, Georgia and Azerbaijan, which entails the construction of
two liquefied natural gas terminals, thus outrunning projects under
discussion for ten years, such as Nabucco, according to Romanian
Economy Minister Tudor Serban. “The project with Azerbaijan and
Georgia will develop faster than Nabucco. The tri-party agreement
will be signed in Baku next week and then the joint venture that
will include Romgaz, SOCAR and Georgia’s natural gas company will
be created. These companies will be joined by financial investors,
which will come up with the money. In three or four years Romania
will supply gas to as far as Austria,” Serban said. The first clear
details about the issue emerged last week. Thus, the value of the
project entailing the construction of two LNG terminals, one in
Constanta, and one in a Georgian location, amounts to 4-6bn euros.