Southern Gas Corridor important for EU - European Commission
Astana, Kazakhstan, Nov.27
By Daniyar Mukhtarov - Trend:
Creation of Southern Gas Corridor is important for the European Union (EU) in terms of gas supplies to the Mediterranean countries, said the Vice-President of the European Commission on Energy Union Marosh Shefchovich Nov.27 at the 25th session of the Energy Charter Conference in Astana.
"The issue of diversification of gas sources is important for the EU," he said. "We study all possibilities, and last week, representatives of the Mediterranean region studied the issue of interest in the establishment of a regional LNG terminal and suppliers of raw material in this region."
Shefchovich said that Europe is interested in creating a network of LNG terminals in order to ensure the free flow of gas across Europe.
He said that LNG terminals in Europe are already operating in the Netherlands and Spain.
In addition, the Vice-President of the European Commission said that on November 27, prime ministers of Estonia and Finland signed an agreement to establish a joint regional LNG terminal in Northern Europe.
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.
On December 17, 2013, a final investment decision was made 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.
The gas to be produced as part of the Stage 2 of the field's development will be exported to Turkey and to the 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).