Details added (first version posted on 15:57)
Baku, Azerbaijan, Feb.5
By Rufiz Hafizoglu - Trend:
Turkish Stream has never been an alternative to the Trans-Anatolian gas pipeline (TANAP), Turkish Economy Minister Nihat Zeybekci said.
The minister made the remarks at a press conference in Baku Feb.5.
He said these two projects differ from each other and will allow Turkey to strengthen its role in the region.
"Although it is believed that the implementation of the Turkish Stream project is still doubted, this project is very real for Turkey," said Zeybekci.
Russia announced the closure of the South Stream gas pipeline project in early December 2014. This pipeline was to run through the Black Sea and deliver fuel to Balkan states, as well as Hungary, Austria and Italy through Bulgaria. The Russian side said it abandoned the project due to the non-constructive position of the European Union as well. Instead of the South Stream, it was decided to construct a pipe to Turkey and create a gas hub on its border with Greece for the consumers in Southern Europe.
Russian Gazprom and Turkish Botas companies have already defined the route of the new gas pipeline. The gas pipeline will pass 660 kilometers in the old corridor of South Stream and 250 kilometers in the new corridor in the direction of the European part of Turkey.
It is planned to sign an intergovernmental agreement on the gas pipeline in Q2 of 2015 and to supply the first gas in December 2016.
Azerbaijan, in turn is carrying out work to ensure the supply of its gas to Europe, which will be possible with the implementation of the Stage 2 of development of the Shah Deniz gas condensate field, expansion of South Caucasus gas pipeline, construction of TANAP and TAP.
All these projects are the components of the Southern Gas Corridor. The Southern Gas Corridor will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security and also will allow Azerbaijan to obtain a new market in Europe.
A final investment decision was made on December 17, 2013 on the Stage 2 of the Shah Deniz offshore gas and condensate field's development. The gas produced at this field will first go to the European market (10 billion cubic meters). Around six billion cubic meters will be annually supplied to Turkey.
The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's proven reserve is equal to 1.2 trillion cubic meters of gas and 240 million metric tons of condensate.
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