European Leaders Back AGRI Energy Project

January 2011 Vol. 238 No. 1

Romanian, Azerbaijani Georgian and Hungarian leaders signed the Baku Declaration on the implementation of the Azerbaijan-Georgia-Romania Interconnector (AGRI) energy project.

This project, which is expected to transport LNG from Azerbaijan to Europe via the Black Sea, has received little media coverage. Most Turkish and Russian analysts have doubts over the realization of AGRI, believing it could face financial, security and political problems. They question who will fund the project estimated at US$6-7 billion, considering the EU’s economic problems.

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