Southern Gas Corridor to be steered on political level

Southern Gas Corridor to be steered on political level

Baku, Azerbaijan, Feb. 9

By Anakhanum Hidayatova - Trend:

The aim of the first founding meeting of the Advisory Council on the Southern Gas Corridor is to steer the process on a political level, the press service of European Commission told Trend Feb.9.

The sides will discuss all issues to have the Southern Gas Corridor operational by late 2019 - early 2020.

"Setting up an Advisory Council is a joined initiative between the European Commission and Azerbaijan, agreed on by Vice President Sefcovic and the Azeri President Aliyev in Baku in Nov 2014," European Commission said.

Vice President Sefcovic will attend the first founding meeting of the Advisory Council on the Southern Gas Corridor in Baku, Azerbaijan on February, 12.

The high-level meeting on ministerial level is hosted by Azerbaijan. All transit countries of the Southern Gas Corridor (Georgia, Turkey, Greece, Italy, Albania and Bulgaria) are invited.

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.

A final investment decision was made on December 17, 2013 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.

As part of the second stage of the field's 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.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. It has proven reserve of 1.2 trillion cubic meters of gas.

Edited by CN

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