European Commission remains committed to open South Gas Corridor

European Commission remains committed to open South Gas Corridor

Azerbaijan, Baku, Oct. 9 / Trend A.Badalova /

The European Commission remains committed to open Southern Gas Corridor, which proposes the transportation of the Caspian gas to the European countries, Dow Jones reported with reference to Energy Commissioner Günther Oettinger.

"We are very determined that the corridor will be opened," Oettinger said at the press conference ahead of a meeting of Nabucco Political Committee in Vienna.

The Southern Gas Corridor is a major energy project for the EU. It is intended to diversify routes and sources of supply. It is aimed at ensuring EU energy security. Gas which will be produced during the second stage of Azerbaijani Shah Deniz field development is considered as the main source for the Souther Gas Corridor projects.

Currently, the Shah Deniz consortium considers two options to deliver its gas to Europe - Trans Adriatic Pipeline (TAP) and Nabucco West. The final decision on a pipeline route will be made in 2013.

Oettinger said that both pipeline concepts were good and that no matter which proposal succeeds, the pipeline will be European.

Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from Turkish-Bulgarian border to Austria.

The project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ, and each of them holds 16.67-percent share.

TAP project is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe.

TAP's initial pipeline capacity will be 10 billion cubic metres per year, expandable to 20 billion cubic metres per year. TAP's shareholders are EGL of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).

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