Baku, Azerbaijan, May 2
By Anahanum Khidayatova - Trend:
Turkmenistan has reaffirmed its commitment to engage in the Southern Gas Corridor, Vice-President of the European Commission in charge of the Energy Union Maros Sefcovic tweeted following the meeting of energy ministers of Azerbaijan, Turkey, Turkmenistan and the EU representatives in Ashgabat.
He called the meeting in Ashgabat a new impetus for continuation of cooperation.
Ashgabat hosted a meeting with the participation of heads of the oil and gas ministries of Turkmenistan, Azerbaijan, Turkey and representatives of the EU, where further prospects of cooperation in the fuel and energy sector were discussed.
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.
The Southern Gas Corridor project envisages transportation of gas from Azerbaijan's Shah Deniz field to 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 contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas and 240 million metric tons of condensate.
As part of the second stage of the field development, gas will be exported to Turkey and European markets by expanding the South Caucasus gas pipeline and the construction of Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.
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