Baku, Azerbaijan, Dec. 17
By Seymur Aliyev - Trend: Southern gas corridor is important for Croatia and Central Europe, Croatian Prime Minister Zoran Milanovic said at the signing ceremony of the final investment decision on the project of the second phase of the Shah Deniz gas condensate field development in Baku today.
"We also intend to diversify our sources of energy supplies... This track of the pipelines that is part of the project is also very important for us. I am looking forward to this project," Milanovic said.
He noted that Croatia is located literally at the end of the TAP pipeline.
This project is not only about energy security this is about cooperation, bringing countries closer together, bringing money and jobs, according to Milanovic.
Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas.
The cost of the second phase of development of Shah Deniz gas condensate field is estimated at $25 billion.
Within the second phase of development it is planned to produce some 16 billion cubic meters of gas (within the first phase - 9 billion), six billion of which will be transported to Turkey and ten billion to Europe.
The consortium of Azerbaijani Shah Deniz gas condensate field development announced its choice of the TAP project in late June, as a gas transportation route to the European markets.
The initial capacity of the TAP pipeline will be 10 billion cubic meters per year with the possibility of expanding to 20 billion cubic meters per year.
Trans-Anatolian (TANAP) gas pipeline will be constructed for transportation of gas through Turkey's territory.