BAKU -- The energy ministers of Azerbaijan, Georgia, and Romania signed a protocol in Tbilisi today on forming a joint venture to export liquified natural gas (LNG) to Europe, RFE/RL's Azerbaijani Service reports.
Georgian Energy Minister Aleksandre Khetaguri told reporters the project could prove very profitable.
Azerbaijani Energy Minister Natiq Aliyev said the protocol envisages the construction of new Black Sea coast terminals in Romania and Georgia that will be linked to pipelines.
"It is a new corridor for Azerbaijan," Aliyev said. "This corridor will enable us to independently deliver our gas to Romania, also to Ukraine and Bulgaria. At the same time, we can cross to the Mediterranean Sea."
Aliyev said a feasibility study will be done that will take one year, after which financial issues will be discussed and funding sought.
"Companies or participating countries can finance the project," Aliyev said. "European Union organizations can also contribute to financing."