Southern Gas Corridor to bring additional dividends to Azerbaijan
Baku, Azerbaijan, June 1
The Southern Gas Corridor project is of exceptional importance in ensuring Europe's energy security, said expert Bahruz Guliyev on Friday.
"It will go down in history as the most important project realized until recent time in the world's oil and gas industry. The project, which will ensure the energy security of Europe, covers many parties with different interests, including six countries and 11 companies," Guliyev said.
"It is not without reason that President Ilham Aliyev, speaking at the opening ceremony of the Southern Gas Corridor, emphasized that Azerbaijan is the guarantor of the energy security of Europe. Azerbaijan, which has economic power, has achieved success in regional and other projects both as an initiator and as a participant. The launch of the Southern Gas Corridor is a logical result of this success," Guliyev said.
The expert emphasized that the Southern Gas Corridor will bring additional dividends to Azerbaijan.
"The economy will develop even faster, because in recent years the Azerbaijani economy is the fastest growing economy in the world. This project will not only open up new opportunities for Azerbaijan, but will also contribute to the partner countries. The head of state noted that this project is very beneficial for the partner countries. So, there will be no losing side," the expert said.
Guliyev added that the project is a guarantor of not only Europe's energy security, but also of the country's security.
"Because economic power allows Azerbaijan to ensure the preservation of stability, development and progress. Turning the Southern Gas Corridor project into reality, Azerbaijan has embarked on the path of even greater success," the expert said.
The launching ceremony of the first stage of the Southern Gas Corridor project was held in Baku on May 29.
The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline.
The next stage will be commissioning of the TANAP gas pipeline, through which the gas will enter the territory of Turkey and further Europe. The launching ceremony of TANAP will take place on June 12 in Turkish Eskisehir.
The Southern Gas Corridor, which costs more than $40 billion, is one of the priority projects for the EU and provides for the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
At the initial stage, the gas produced within the second phase of development of the Azerbaijani gas condensate field Shah Deniz is considered as the main source for the Southern Gas Corridor projects.
The gas in the second stage of the field development will be exported to Turkey and European markets through the expansion of the South Caucasus Pipeline and the construction of the TANAP and TAP pipelines.