Wednesday, September 15, 2010

Georgia, Azerbaijan and Romania Establish Joint Venture to Transport Natural Gas to Europe

The Presidents of Azerbaijan, Georgia, and Romania signed a memorandum establishing a joint venture for transporting Azerbaijani natural gas to Europe via tanker. Azerbaijan will be the producer of natural gas, Georgia will act as a transit country, and Romania will secure access to European pipelines. The project is expected to compete both with the Russia-sponsored “South Stream” (a proposed gas pipeline from Russia to Europe) and with the EU-sponsored “Nabucco” (a pipeline from Turkey to Europe).

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