...

Southern Gas Corridor at center of Azerbaijani-EU partnership – European Commission

Oil&Gas Materials 11 February 2015 17:04 (UTC +04:00)
Azerbaijan is a very important partner for the European Union (EU) and Southern Gas Corridor project is at the center of the strategic energy partnership between the two sides.
Southern Gas Corridor at center of Azerbaijani-EU partnership – European Commission

Baku, Azerbaijan, Feb.11

By Anakhanim Hidayatova - Trend:

Azerbaijan is a very important partner for the European Union (EU) and Southern Gas Corridor project is at the center of the strategic energy partnership between the two sides, Vice President of the European Commission for Energy Union, Maros Sefcovic said.

Sefcovic made the remarks on the eve of his visit to Azerbaijan.

He said that this is a project that can encourage greater economic cooperation, improve energy security, a message from the EU Delegation to Azerbaijan said.

He added that 30,000 jobs will be created in all countries along the corridor.

"Our objective remains that the entire infrastructure project along the corridor will be operational in time by 2019-2020," he said.

Sefcovic added that this is as important for European energy security as it is for the future economic development of Azerbaijan.

Baku will host the first meeting of the Advisory Council of the Southern Gas Corridor on Feb.12.

The participation of the following officials in the meeting has already been confirmed: Italian Deputy State Secretary for Economic Development Claudio de Vincenti, energy ministers of Greece, Georgia and Bulgaria, Panagiotis Lafazanis, Kakha Kaladze and Temenujka Petkova, as well as the Vice President of the European Commission, Maros Sefcovic.

Representatives of all transit countries of the Southern Gas Corridor (Georgia, Turkey, Greece, Italy, Albania and Bulgaria) have been invited to participate in the meeting.

Southern Gas Corridor is one of the priority energy projects for EU. This project is aimed at diversification of routes and sources of energy supply and thereby increase EU's energy security.

The Southern Gas Corridor envisages the delivery of gas from Azerbaijan's Shah Deniz gas condensate field to Europe.

A final investment decision was made on Dec.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), while six billion cubic meters of gas will be annually delivered 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.

As part of the second stage of the field's development, gas will be exported to Turkey and European markets by expanding the South Caucasus gas pipeline and the construction of Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.

Edited by SI

Tags:
Latest

Latest