BAKU, Azerbaijan, June 4. The Southern Gas Corridor remains a key element of regional energy security and stability of supply, the Vice President of Finance for the Azerbaijan, Georgia, and Türkiye region at bp, Colin Allan, said at the Baku Energy Forum, Trend reports.
“We see a close relationship between the upstream segment and the market. Upstream investments are impossible without the market, and the market depends on these investments. We are talking about safety, reliability, and mutual benefit,” he said.
According to him, the Shah Deniz project remains a reliable supplier of energy resources, contributing to the stability of supply.
“Last year, the level of delivery reliability in the upstream segment exceeded 99 percent. This is an important indicator. In addition, our gas provides about 16 percent of the Italian gas market, which emphasizes the importance of the project for the diversification of European supplies,” Colin Allan said.
He also noted the strategic importance of Azerbaijan's geographical location, adding that the Southern Gas Corridor and its further development provide not only energy stability but also open new opportunities for investment in the future of the energy transition.