Albanian minister: Southern Gas Corridor to change Europe’s energy map

Oil&Gas Materials 20 September 2014 14:06 (UTC +04:00)

Baku, Azerbaijan, Sept. 20

By Aygun Badalova, Seymur Aliyev - Trend:

The southern Gas Corridor is a very important project that will change the region's and Europe's energy map, Albanian Trade and Energy Minister Damian Gjiknuri said at the 20th anniversary of the Contract of the Century and the Southern Gas Corridor groundbreaking ceremony in Baku on September 20.

"The project is important for Albania. It is important for Europe and for the whole region, because Europe will secure reliable and alternative source of energy," Gjiknuri said.

"This is important for the future of the EU, for its security, because the continent without option will not have safe future," the minister said.

He said that for the first time big quantities of gas will be transported to Albania, providing big energy security for the country.

Azerbaijan's gas supplies to Europe will open the "Southern Gas Corridor", which will allow Europe to diversify its sources of hydrocarbon supplies and boost energy security, and on the other hand give Azerbaijan a new market - Europe.

In order to ensure the gas supplies to the new market, a final investment decision was made Dec. 17, 2013 on the Stage 2 of development of the Shah Deniz field. Some 10 billion cubic meters (bcm) of the field's total gas output will go to Europe, while 6 bcm will be annually delivered to Turkey.

The gas to be produced as part of the Stage 2 of the field's development, will be exported to Turkey and the European markets by means of expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Gas Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP).