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Azerbaijan, Hungary to discuss Nabucco, AGRI

November 11, 2011, 6:36 UTC+3
Diplomatic sources in Baku said the talks would focus “on the energy component of relations”
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BAKU, November 11 (Itar-Tass) —— Visiting Hungarian President Pal Schmitt will meet his Azerbaijani counterpart Ilham Aliyev on Friday to discuss two projects that are to deliver Caspian gas to Europe bypassing Russia.

Diplomatic sources in Baku said the talks would focus “on the energy component of relations.”

Azerbaijan and Hungary participate in Nabucco and AGRI (Azerbaijan-Georgia-Romania-Interconnect) gas transportation projects. The latter was agreed by Azerbaijan, Georgia, Romania and Hungary in September 2010. It is to deliver liquefied gas from Azerbaijan to Europe via Georgia, the Black Sea, and Romania. The project is estimated at 1.2 to 4.5 billion euro depending on the volume of deliveries.

Schmitt said on the eve of the visit there are also major cooperation possibilities in the non-energy sector. The president is accompanied by 50 leading businessmen who will discuss concrete cooperation projects at a bilateral business forum in which both presidents will take part.

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