Baku, Azerbaijan, June 4
By Aygun Badalova- Trend:
Caspian region is a new hub for global energy supply, Kenan Yavuz, president of SOCAR Turkey said at the 21st Caspian International Oil and Gas Conference in Baku on June 4.
He noted that the Caspian region is also home for a lot of pipeline projects and 25 major world companies are involved in oil and gas projects in the Caspian region.
Yavuz went on to add that Turkey is becoming a major regional energy transit hub.
"Turkey has potential to transit from 120 to 200 million tons of oil to the world markets per annum and up to 43 billion cubic meters of gas," he said.
He also said that the Southern Gas Corridor will enhance economic and political stability of the region and diversify European energy supplies.
According to Yavuz, Azerbaijan and Turkey are the most important players.
"The role of Turkey is growing, as it is the bridge between the Caspian region and Europe," he said. "The Southern Gas Corridor will create long term and strong relationship with Europe, similar to relations between Azerbaijan and Turkey."
The Southern Gas Corridor is a project that will allow Europe to diversify its sources of hydrocarbon supply and strengthen energy security and enable Azerbaijan to get a new market in Europe. The gas to be produced within the second phase of the Azerbaijani gas condensate Shah Deniz field's development is considered as the main source for the Southern Gas Corridor.