Southern Gas Corridor only project to guarantee major supplies from new source

Southern Gas Corridor only project to guarantee major supplies from new source

Baku, Azerbaijan, Feb. 16
By Aygun Badalova - Trend:

The Southern Gas Corridor is the only project which guarantees major gas supplies from new source, TASS reported citing European Commission Vice-President for Energy Union Maroš Shefchovich.

"This is the largest project with the estimated cost of implementation at 45 billion euros," Shefchovich said.

He also added that the conflict in South-East of Ukraine pushed the EU member countries to accelerate the diversification of energy supply source, and the process of the European Energy Union creation.

"The EU is extremely tired to worry every summer about energy supplies for the coming winter," he said added that energy security issues are controlled by top political leaders.
Shefchovich expects that the project of European Energy Union's creation project will be supported by the European Council in March this year.

"The European Union will provide energy security for the EU," Shefchovich said.
"Its creation will mean the implementation of plans for the construction of a single European energy market, the elimination of existing technical and administrative barriers," he added.
He also expects the optimization of energy prices for the consumers in the EU, because the European Energy Union will enable member states to save significant amount of budgetary funds.

European countries are too dependent on fuel and gas imports. To reduce this dependency while keeping its energy market open to countries outside the EU, is the key objective, which, in particular, includes the creating a European Energy Union - by pooling resources, connecting networks and uniting the power when negotiating with non EU countries.
Among the most important energy objectives of the European Union is the diversification of its energy supply sources and routes.

The Southern Gas Corridor project envisages the transportation of gas from the Caspian region through Georgia and Turkey to Europe.

This large project aims at diversifying the routes and sources of energy supply that will enhance energy security of Europe. The Southern Gas Corridor project will ensure Caspian gas supply to the European markets for the first time in history.

At the initial stage, the gas to be produced as part of the second phase of development of Azerbaijani gas condensate Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. At a later stage, other sources may join the project.

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

Around six billion cubic meters of the total volume of gas within the Shah Deniz-2 project will be delivered to Turkey and 10 billion cubic meters to Europe per year.
---

Aygun Badalova is Trend Agency's staff journalist, follow her on Twitter: @AygunBadalova

Subscribe to Trend in Google News! Subscribe
Russia’s investments in US government securities in August remain at July level
Russia’s investments in US government securities in August remain at July level
Oil prices fall as weaker China growth, U.S. output stoke demand concerns
Oil prices fall as weaker China growth, U.S. output stoke demand concerns
Top U.S. envoy to Afghanistan stepping down
Top U.S. envoy to Afghanistan stepping down
Loading Bars
Latest
Azerbaijan's defense minister visits newly established commando military unit (PHOTO/VIDEO)
Iran’s PMO declares data on load/unload operations in Jask Port
Iran intends to increase exports through Astara
Turkey reveals cargo traffic via its ports from Portugal for 8M2021
Exports of Iran to Kyrgyzstan booming
President Ilham Aliyev receives Croatia's Minister of Foreign and European Affairs
Iran's Energy Exchange announces products to be on sale on October 20
President Ilham Aliyev expresses condolences to President Recep Tayyip Erdogan
Iran’s Bahar Azadi gold coin price rebounds
Azerbaijan transfers captured Armenian servicemen back to Armenia
Uzbekistan plans to exempt import and sale of meat products from VAT
Turkey shares data on maritime cargo shipment with Russia for 8M2021
Azerbaijan shares data on oil transported via BTC pipeline in 9M2021
USAID to provide additional funds for Kazakhstan to fight COVID-19
Turkey announces data on cargo traffic with Italy for 8M2021
Kazakhstan imposes export restrictions for some timber types
Azerbaijan names locations of future national parks in liberated territories
Azerbaijan demands certain steps from Armenia at UN International Court of Justice
Iran’s 9M2021 Turkish cement imports up
Iran to host meeting on economic co-op with Turkmenistan
Georgian foreign trade turnover increases
Iran increases petrochemicals production
Kazakhstan sees increase in number of open trading accounts
​Iran allocates more funds for oil and gas projects in Ilam Province
Turkey unveils data on cargo traffic via its ports from Spain
Georgia's domestic export up in 9M2021
Value of Turkish cement exports to Georgia for 8M2021 down
Turkey shares data on cargo traffic with Greece for 8M2021
Turkey reveals cargo volume handled from Egypt in 8M2021
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,102 more COVID-19 cases, 863 recoveries
Cargo traffic on Azerbaijan's section of TRACECA for 8M2021 revealed
IMF lowers breakeven oil price level for Azerbaijan
Saudi index hits 15-year peak as most Gulf bourses gain
Israel's Bank Mizrahi Tefahot to issue $1.1 bln of CPI-linked bonds
Iran seeks to complete semi-finished project related to Lake Urmia's revitalization
Iran imports trucks to renovate transportation fleet
IMF revises up forecasts for Azerbaijan’s non-oil GDP growth
Iran`s domestic appliances production increases
IMF reveals forecast for Azerbaijan’s annual inflation
Iran's imports from neighboring countries up
Turkey discloses volume of cargo shipment via its ports from Singapore for 8M2021
Hungarian companies to attend Rebuild Karabakh EXPO
Azerbaijan raises gas exports via BTE pipeline
IMF predicts growth for Azerbaijan's GDP
Azerbaijani ministry denies rumors about full transition of schools to online lessons
Slovakia interested in deepening relations with Azerbaijan - FM
Turkey reveals cargo traffic with Morocco for 8M2021
Data on cargo shipping between Turkey and Algeria for 8M2021 revealed
Turkey shares data on cargo traffic with Israel for 8M2021
TAP partially stems increase in gas prices – managing director
Iran to sell oil through private sector
Iran started exploration of mining sites in South Khorasan Province
Minister talks preferential loans issued in Azerbaijan since early 2021
Bakcell will be ready to implement eSIM project in Azerbaijan
Iran reveals COVID-19 data for October 19
Iran's steel production increases
Iran eyes to boost domestic production in mining, industrial and commercial sectors
AccessBank eyes increasing loan portfolio mainly in segment of micro, agricultural entrepreneurs - Acting Chairman of Board (Interview)
National bank of Georgia shares data on payment cards issuance
Average mobile internet download speed continues to grow in Azerbaijan - Ookla
Galt & Taggart publishes overview of Georgia's economic growth
USAID selecting Turkmen business projects for co-financing
Eni Turkmenistan Ltd opens tender for supply of wellhead equipment
Azerbaijan exported most of its oil to Italy in 9M2021 - State Customs Committee
Iran ready to attract investment in renewable energy sector - minister
Azerbaijan - supporter of normalization of relations with Armenia, says FM
Azerbaijan, Slovakia eye signing agreement on economic co-op
Slovakia to supply Azerbaijan with de-mining machines in near future
Azerbaijan denies rumors about impeding exports from Iran to Russia
Iran Standards and Quality Inspection Agency releases car quality report
Iran to complete railway transit corridors - RAI
Baku Expo Center to soon open 'Rebuild Karabakh' exhibition
Joint press conference of Azerbaijani and Slovak FMs held in Baku (PHOTO/VIDEO)
VTB Bank in Georgia to back up creation of Nuclear Medicine and Diagnostic Center
Uzbekistan to produce its first electric cars
Turkey's steel export to Uzbekistan surges in value for 9M2021
Turkey shares data for cargo traffic via domestic ports from Ukraine in 8M2021
Azerbaijani, Slovak FMs holding expanded meeting (PHOTO)
Turkmen state concern to buy chemical products via tender
Azerbaijan’s 'Kalbajar' tanker leaves for first voyage
Renewables’ share in global energy supply to increase to over 25%
Georgia shares data on COVID-19 cases for October 19
Iran discloses volume of exports from Parvizkhan border terminal
PwC announces new strategy: The New Equation
India’s active Covid cases fall below 200k for the first time in seven months
Russia’s investments in US government securities in August remain at July level
Death accident takes place during construction of road in Azerbaijan's Kalbajar
Quake off Greece's Karpathos shakes eastern Mediterranean
Renewable Energy Agency talks on projects in Azerbaijan’s liberated lands
Israel's El Al Airlines starts talks to buy smaller rival Arkia
NEQSOL Holding ​comments on its intent to purchase shares in Ukraine’s largest cement producer
Azerbaijani president receives Slovak FM (PHOTO)
Azerbaijani president receives EU Special Representative (PHOTO/VIDEO)
Iran COVID-19 vaccinations on track - President Raisi
Iran continues to sell state-owned property
Iran textile industry faces smuggling challenges - official
Turkey names volume of cargo traffic via its ports from China for 8M2021
Turkmenistan’s education ministry opens tender for drip irrigation system
Turkey reveals volume of cargo shipment via local ports from Belgium for 8M2021
All news