Hungary in Talks with Azerbaijan to Participate in Pipeline Project

Hungary is in talks with Azerbaijan to participate in the pipeline project that will supply gas to southern and central Europe.

The Azerbaijan-Georgia-Romania gas pipeline (AGRI), whose construction is projected to cost 1.2 to 4.5 billion EUR, is designed to supply from 2 to 8 billion cubic meters of gas through Georgia and the Black Sea to the Romanian city of Constanta, reports Russian paper Vedomosti. 

It’s important to note that Hungary consumes 14 billion cubic meters of gas annually, receiving 80% of this from Russia. If an agreement is reached on the project, then the pipeline could be built within two years.

At the same time, according to official sources in Hungary, interest in the project, nevertheless, doesn’t mean that Budapest is withdrawing from the EU–conceived Nabucco gas pipeline project.