BAKU, Azerbaijan, February 3. Italy has all the infrastructure to transport natural gas exported from Azerbaijan to other European countries, said Italian Minister of the Environment and Energy Security Gilberto Pichetto Fratin at the meeting of the Southern Gas Corridor Advisory Council, Trend reports.
"The Southern Gas Corridor is the most important international energy project of Azerbaijan," he said.
He noted that the relations between Italy and Azerbaijan are developing along an ascending line. Italy continues to work on increasing the capacity of the Trans-Adriatic Gas Pipeline (TAP) to increase the volume of gas exported by Azerbaijan to Europe. Azerbaijan has large gas reserves and will increase its gas exports to Europe from 10 to 20 billion cubic meters in 2027. Thus, Italy is creating a new infrastructure so that in the future it can receive and distribute up to 30 billion cubic meters of gas.
"Southern Gas Corridor is the most important energy project of international significance promoted by Azerbaijan. Considering Azerbaijan a reliable partner, Italy not only supported this project but also, by joining it, did crucial work on the implementation of TAP, which is an integral part of the project," said the minister.
Southern Gas Corridor started transportation of Azerbaijani gas to Europe on December 31, 2020. It transports gas from the Caspian Sea region to European countries through Georgia and Türkiye.
This large-scale project is aimed at the diversification of energy supply routes and sources, thereby contributing to strengthening Europe’s energy security. The project’s cost totaled $33 billion, as compared to the forecast of $45 billion. Capital expenditures on the SGC project are expected to be fully reimbursed within 8-10 years.