Penspen Awarded AGRI Feasibility Study

British oil and engineering firm Penspen has announced that it will conduct a feasibility study on the Azerbaijan-Georgia-Romania-Hungary Gas Interconnector (AGRI) after being awarded the tender by AGRI operator AGRI LNG.

Penspen said that work on the feasibility study, which has already begun, will take a total of five months. Results will be available by the end of November this year. 

Through the study, Penspen will focus on a number of areas, including providing an analysis of the gas market and gas supply as well as an economic and financial analysis, developing an engineering concept for the associated pipelines and LNG terminals and will conduct a risk assessment on the environmental aspects of the project.

The AGRI project is designed to carry Azeri gas to Romania and to the rest of central Europe. The pipeline, which will have a capacity of 7 billion cubic metres a year, will bring 2 billion cubic metres of gas to Romania. 

Penspen’s Director of Onshore Michael Simm said yesterday that the AGRI project would help to move Azeri gas into Europe when it was completed.

"We are delighted to have won this prestigious international study which will build further on our longstanding experience and reputation in this area," he said. "AGRI has the potential to open the way for Azerbaijani gas exports into Central Europe and we look forward to supporting this important project."