Gas pipeline memorandum

The memorandum was signed in New York by Albania’s Foreign Minister, Edmond Panariti; the Greek Foreign Minsiter, Dimitrst Avramopoulos and the Italian Prime Minister, mr. Giolio Terzi. Panariti thanked his homologues and declared that this document shows the common will for supporting the policy of this important project, and a step forward for the finalization process.

“When there is good will, there is always a way. We found it and this is a very important step which shows that the three countries can cooperate with the same spirit for the challenges of the future. This project is very important for the Euroepan region, and it will serve to the economy of each country by opening new jobs”, Panariti declared.

In this ceremony were also present representatives from the countries where the funding companies of this project come from. The US Deputy State Secretary for Energy, Amos Hochstein, and diplomats from countries that were part of the memorandum. This project foresees the construction of the gas pipeline from Azerbaijan to Turkey, Greece, Albania and then its distribution to Europe through Italy. If realized, it will bring 2 billion USD of investments in Albania.

The project that will supply gas to Western Europe will also make Albania a strategic point for the gas network.

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