Baku, Azerbaijan Feb. 29
By Seba Aghayeva - Trend:
The implementation of the Southern Gas Corridor (SGC) project, envisaging Azerbaijani gas supply to Europe, is vital for EU's energy strategy, said Federica Mogherini, the EU's high representative for foreign affairs and security policy.
The SGC ensures the further diversification of supply routes and makes it possible to intensify the political, economic and social relations with a number of partners in the region, she said at a briefing in Baku Feb. 29.
Mogherini also emphasized the importance of the second meeting of the Southern Gas Corridor Advisory Council held in Baku, adding that the event will contribute to the project's implementation.
She said the talks in Baku focused on conformity of Azerbaijan's economy with the new realities when there are low oil prices on world markets.
Mogherini also said that Azerbaijan is an important strategic partner of the EU in the region.
The Southern Gas Corridor is one of the priority energy projects for EU. It envisages transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian Sea to Europe through Georgia and Turkey.
At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.
As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.