Southern Gas Corridor - landmark strategic project, says IFC

Oil&Gas Materials 29 February 2016 14:00 (UTC +04:00)

Baku, Azerbaijan Feb.29
By Azad Hasanli - Trend:

The Southern Gas Corridor is a landmark strategic project to open up gas supplies to new markets and contributing to energy security of the Southern-East Europe, Jan van Bilsen, regional manager of the International Finance Corporation (IFC) for the South Caucasus, said.

He made the remarks during the second ministerial meeting of the Southern Gas Corridor Advisory Council in Baku Feb.29.

Bilsen noted that the IFC has not made an investment decision yet concerning the Southern Gas Corridor project.

"We welcome an opportunity to participate in this meeting and to understand the potential role which IFC could play in the project," he added.

The Southern Gas Corridor project envisages transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian Sea to Europe through Georgia and Turkey.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.