Beyond the excitement of any project meant to lessen dependenceon Russian gas, Azerbaijan Georgia Romania Interconnector (AGRI),an investment set to bring Caspian gas to Europe, is rathersurrounded by question marks than certainty starting from the waythe over 4bn euros are to be raised to the viability of theconcept.
"Technical ability is far less important in such case than theeconomics. You cannot just invest in the LNG terminal, for the sakeof just having one. If the terminal is not loaded, it means thatthe money invested in it is lost. Who should want it? And coming tothe economics, there are several aspects to consider. Where wouldthe LNG come from, and go to? For what period the demand issecured, and loadings of LNG port are guaranteed, and would thistime be enough to return all funds invested? Would it not be saferand cheaper to get the same gas through the pipeline, saving onliquefaction and regasification costs? And does the country providea good pipeline transportation system connected to the terminal, asit is not LNG but gas that is consumed, anyway? All these questionsshould be answered by the local market, not Gazprom," said therepresentatives of the Russian giant.
The representatives of Romgaz, a company that is part of thisproject, did not comment on the AGRI issue, specifying anyinformation should be validated by all the parties involved.
Market sources say that at least at first sight the project has abig political weight, bigger than the economic one.
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