Baku, Azerbaijan, June 14
By Leman Zeynalova – Trend:
Gas consumption in the European Union (EU) rose sharply by 30 billion cubic meters in 2016, or 7.1 percent – the fastest growth since 2010, according to the BP Statistical Review of World Energy.
The volume of gas consumption in the EU stood at 428.8 billion cubic meters in 2016, as compared to 399.1 billion cubic meters in 2015, said the report.
However, BP estimates show a 2.2 percent decline in the EU gas consumption in 2005-2015.
Natural gas production in EU countries stood at 118.2 billion cubic meters in 2016, or 1.6 percent less than in 2015, said the report.
Currently, the basic element of the EU energy policy is diversification of gas supply sources and routes.
In this context, one of the priority projects for the EU is the Southern Gas Corridor, which envisages gas supply from the Caspian Sea region to Europe.
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 project. 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 (TANAP) and Trans-Adriatic Pipeline (TAP).
Follow the author on Twitter: @Lyaman_Zeyn