Brussels, Belgium, Dec.10
By Elena Kosolapova - Trend:
The European Union (EU) considers Azerbaijan a reliable partner in ensuring its energy security, EU representatives said.
This topic was discussed during the Forum of Young Leaders, which was organized by the European Parliament within the framework of the EU Eastern Partnership in Brussels.
Given the geopolitical situation in the region and the world, the issues of energy security and diversification of energy supplies are of primary importance for Europe and were a focal point of the forum discussions.
Europe needs to reduce its energy dependence on Russia and is conducting the search for new alternative sources of energy supplies, according to the EU representatives. Implementation of these measures will further relieve Europe of its dependence on the decisions and attitudes of Russia, the EU representatives said.
The forum highlighted the concern of the EU over recent agreements between Russia and Turkey on the possibility of Russian gas supplies to Europe via Turkey.
A gas pipeline passing through Ukraine is enough for Europe for Russian gas supplies, and Europe is not interested in the construction of new pipelines for Russian gas, according to the EU representatives.
The forum participants expressed hope that if the talks with Iran on its nuclear program are successful, natural gas from Iran and Iraq can be supplied to Europe via the Southern Gas Corridor in the future.
The Southern Gas Corridor will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security and also will allow Azerbaijan to obtain a new market in Europe.
On December 17, 2013, a final investment decision was made on the Stage 2 of the Shah Deniz offshore gas and condensate field's development. The gas produced at this field will first go to the European market (10 billion cubic meters). Around six billion cubic meters will be annually supplied to Turkey.
The gas to be produced as part of the Stage 2 of the field's development will be exported to Turkey and to the European markets by means of expanding the South Caucasus Pipeline and construction of the Trans-Anatolian Gas Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP) that are a part of the Southern Gas Corridor project alongside with Shah Deniz-2.
The cost of the work on all four elements of this corridor is estimated at almost $50 billion, according to the preliminary data.
The contract for development of the Shah Deniz offshore field, which has proven reserve of 1.2 trillion cubic meters of gas, was signed on June 4, 1996.
The shareholders are: SOCAR (16.7 percent), BP, operator (28.8 percent), Statoil (15.5 percent), NICO (10 percent), Total (10 percent), Lukoil (10 percent) and TPAO (9 percent).
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Elena Kosolapova is Trend Agency's staff journalist, follow her on Twitter: @E_Kosolapova