Azerbaijan, Turkey, Turkmenistan likely to create “Turkic corridor”

Oil&Gas Materials 19 January 2012 18:47 (UTC +04:00)

Azerbaijan, Baku, Jan. 19 / Trend A. Badalova /

Azerbaijan, Turkey and Turkmenistan, which are considered as the main players in European Southern gas Corridor concept, are likely to create so called Turkic Corridor, editor-in-chief at Eurasia Energy Observer Andrej Tibold believes

"Although initially an EU concept, it seems like the key Southern Corridor countries, Turkey, Azerbaijan and Turkmenistan might be on their way to execute this concept into a 'Turkic Corridor'," Andrej told Trend via e-mail.

With the Azerbaijani-Turkish agreement on the construction of the Trans Anatolian Pipeline (TANAP), it has become evident that Turkey and Azerbaijan have found a joint interest in facilitating gas transports through the Southern Corridor, Tibold believes.

Azerbaijan and Turkey signed a memorandum of understanding to establish the consortium that will build a gas pipeline to supply gas from the Azerbaijani Shah Deniz field to Europe over Turkey. The construction of TANAP is required for the export of the most part of 50 billion cubic metres of gas that Azerbaijan intends to produce by 2025.

The next step might be to convince Turkmenistan to step on board and together create a 'Turkic corridor', Tibold said.

Azerbaijan, Tibold believes, would play a role as a producing and transit country.

The Southern gas Corridor, which is the priority project for the EU, aims to diversify energy supply routes and sources and, therefore, increasing energy security of the European countries.

Gas which will be produced during the second stage of Azerbaijani Shah Deniz gas condensate field development is considered the main resource for the project within the Southern gas Corridor. Shah Deniz field's reserves are estimated at 1.2 trillion cubic meters during the first stage. Additional 16 billion cubic meters is planned to be produced within the second phase of the field development.

Tibold believes that Azerbaijan definitely has a potential in securing gas supplies to Europe.

"With gas from Shah Deniz it can bring the first sizable volumes of Caspian gas to the European market," he said.

He also added that Azerbaijan could keep up with production in long-term perspective with development of other fields, such as Umid and Absheron.

According to BP, Azerbaijan's proved gas reserves amounted to 1.3 trillion cubic meters in early 2011.

In September, 2011 the discovery of large gas field Absheron in the Azerbaijani national sector of the Caspian was announced. The field's potential reserves are estimated at 350 billion cubic metres of gas and 45 million tons of condensate. Correspondingly, Azerbaijan's proven gas reserves have increased up to 2.55 trillion cubic meters.