Baku, Azerbaijan, Feb.12
By Anakhanim Hidayatova - Trend:
The Turkish Stream project will be considered by the European Commission, the Vice President of the European Commission Maros Sefcovic, who is in charge of Energy Union, told reporters Feb.12, commenting on the possibilities of the project.
"The Turkish Stream has been announced recently, and we will consider how much gas they want to transport to Europe," he said. "Southern Gas Corridor is already much more developed and is the main source of diversification of gas supplies to Europe."
He said that the EU should examine all long-term contracts with Gazprom and other companies, which may change, so all the details should be discussed.
Russia announced the closure of the South Stream gas pipeline project in early December 2014. This pipeline was to run through the Black Sea and deliver fuel to Balkan states, as well as Hungary, Austria and Italy through Bulgaria.
The Russian side said it abandoned the project due to the non-constructive position of the European Union as well. Instead of the South Stream, it was decided to construct a pipe to Turkey and create a gas hub on its border with Greece for the consumers in Southern Europe.
Russian Gazprom and Turkish Botas companies have already defined the route of the new gas pipeline. The gas pipeline will pass 660 kilometers in the old corridor of South Stream and 250 kilometers in the new corridor in the direction of the European part of Turkey.
Plans are to sign an intergovernmental agreement on the gas pipeline in Q2 of 2015 and to supply the first gas in December 2016.
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.
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).