Romania reveals possible financing sources for AGRI project
By Trend
Azerbaijan-Georgia-Romania Interconnector (AGRI) remains an important project for Romania and for the European Union (EU), a source in Romanian government told Trend.
"The AGRI project is a unique initiative in the Black Sea region, covering both the energy security component (by diversifying the energy routes and sources) and the regional cooperation component, which is a major common goal of the Energy Union. For these reasons AGRI remains an important project for Romania and for the European Union (EU). On a wider note, AGRI highlights the important contribution that liquefied natural gas (LNG) could bring to the EU’s energy security, in line with the objectives of the European Commission Strategy for LNG and natural gas deposits," said the source.
The source pointed out that AGRI aims at opening a new gas transport corridor from the Caspian region, especially from Azerbaijan, as a new entry point for imported gas to the EU market.
"The corridor was specially designed as the shortest, most direct and independent gas transport route connecting the gas source to the EU gas market. The discovery in the Black Sea of important hydrocarbon reserves may confer an additional significance to the project. Furthermore, AGRI may be considered as additional supply route for the BRUA (Bulgaria-Romania-Hungary-Austria) interconnector currently under execution."
The AGRI Feasibility Study has already been finalized, with positive conclusion in both scenarios considered (in terms of projected delivery capacity), the source said.
Further steps towards the development are assessed in view of the progress of other regional energy projects, as well as of the availability of Caspian gas resources, added the source.
As far as the financing options are concerned, the source noted that these might include special EU financing programs for energy - such as Common Interest Projects (CIP), Energy Community Common Interests Projects (ECCIP) and Mutual Interest Projects (MIP) – and/or the banks specialized in financing energy/infrastructure projects.