Shah Deniz-2, TANAP, TAP are Europe’s largest infrastructure projects: President Aliyev

Photo: Shah Deniz-2, TANAP, TAP are Europe’s largest infrastructure projects: President Aliyev / Oil&Gas

Baku, Azerbaijan, April 15

Trend:

Both Azerbaijan and foreign partners increase investments in oil and gas sector, Azerbaijani President Ilham Aliyev said.

The president made the remarks in his closing speech at the Cabinet of Ministers meeting dedicated to the results of socio-economic development in the first quarter of 2014 and the future tasks.

"The newly constructed platforms and drilled wells increase our energy potential. Gas supply process is also successfully continuing and I am sure we will achieve the desired figures soon," Ilham Aliyev said.

He added that TANAP project's realization has already started.

"TANAP is a project of the 21st century. Shah Deniz- 2, TANAP and TAP are the largest infrastructure projects of Europe," Ilham Aliyev said.

"Tenders have already been announced. Hopefully, soon we will begin construction. This project was launched late last year," the Azerbaijani president said.

Ilham Aliyev noted that the preparatory works have already begun, and Azerbaijan demonstrates its leadership qualities in the project's realization.

"I believe, I am absolutely convinced and I know that without our policy, energy policy, bold policy, this project would have never been implemented," he said.

President Aliyev stressed that Azerbaijan is the initiator of the mentioned projects, and the country also plays the main role.

"Azerbaijan undertook all the risks, including financial and technical ones. I am sure we will successfully implement this project, because until now we have achieved success in all the energy projects that we initiated," he said.

The president underscored that Baku-Supsa, the Baku-Tbilisi-Ceyhan and the Baku-Tbilisi-Erzurum oil and gas projects are all a reality now.

"These projects have been functioning for many years already. Therefore I am confident that we will with honour implement these major projects too," President Aliyev said.

Gas to be produced within the second stage of Azerbaijani Shah Deniz field development is considered as the main source for the Southern Gas Corridor project, which will allow Europe to diversify its sources of hydrocarbon supply and strengthen energy security.

As part of the project, Europe will be getting some 10 billion cubic meters of gas from Azerbaijan on an annual basis.

The gas to be produced within the second phase of the field's development will be exported to Turkey and to 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).

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Tags: Ilham Aliyev