After the summit the sides will sign a Baku declaration.
The working groups will hold a meeting in Baku on September 6th to agree on the necessary documents and on September 13th there will be a meeting of energy ministers of the three countries. Chairman of the European Commission Jose Manuel Barroso and European Commissioner for Energy Gunther Oettinger will participate in the Baku summit.
A trilateral working group was established earlier within the framework of the Azerbaijan-Georgia-Romania Interconnection project.
The process of establishing a joint venture is expected to finish this autumn. It will consist of the three participating countries of the project. At the first stage the company will prepare the technical-economic basis and then turn to the search for investments and construction of terminals in Georgia and Romania and the necessary infrastructure. In September there will be a tender for preparation of the technical-economic basis of the project.
Azerbaijan, Romania and Georgia signed a memorandum on cooperation in the sphere of liquefied gas and its transport on April 13th. The sides signed a protocol on establishing a joint venture for realization of the project on May 12th.
The project of transporting Azerbaijani liquefied gas to Romania involves construction of two terminals in Georgia and Romania. According to preliminary data, the project will cost 4-6 billion euros.
The project involves transporting Azerbaijani gas using gas pipelines to the Black Sea coast of Georgia where it will be liquefied at a special terminal. Then it will be turned into natural gas and used in the gas infrastructure for the demands of Romania and other European countries.
