SOCAR Balkan, a subsidiary of the State Oil Company of Azerbaijan that covers Balkans area, said that by September four southeastern countries will established a joint company to implement the project for the construction of Ionian-Adriatic (IAP) gas pipeline.
CEO of SOCAR Balkan Murad Heydarov said that Albania, Bosnia and Herzegovina, Croatia and Montenegro will set up the joint company with the technical assistance of the Azeri company. This move is envisaged in a letter of intent, signed by the Croatian Plinacro, Albanian Albgaz, Montenegrin Montenegro Bonus and SOCAR at the Fourth Ministerial Meeting of the Advisory Council of the Southern Gas Corridor in February this year.
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Tags: Albania, BIH, Bosnia and Herzegovina, Croatia, gas, gas pipeline, IAP, Montenegro, Region, SOCAR