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.

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 LN