Baku, Azerbaijan, May 13
By Aygun Badalova - Trend:
Vice-President of the European Commission for Energy Union Maros Sefcovic welcomed the recent developments on the IGB (Greece-Bulgaria gas interconnector) project, which is being realized within the Southern Gas Corridor.
"We believe, that according to the latest information, this project will be commercially viable and we can start the construction very soon," Sefcovic told in EBRD-filmed interview.
He also stressed that the Southern Gas Corridor is very important project and it is on schedule.
"We believe that by 2019 we will have Caspian gas in Turkey, by 2020 - in Europe," Sefcovic said.
The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian Sea region to the European countries 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.
IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to the Trans Adriatic pipeline via which gas from the Shah Deniz field will be delivered to the European markets.
In early December, 2015, Bulgaria and Greece signed a final investment decision on the IGB project.