Swiss company fully counts on Azerbaijani gas in TAP context

Baku, Azerbaijan, Sept.13

By Leman Zeynalova – Trend:

In the context of the Trans Adriatic Pipeline (TAP) project, Axpo Holding AG, headquartered in Switzerland, fully counts on gas from Azerbaijan, a source in the company told Trend.

A source in the Axpo company, which holds 5 percent share in TAP project, envisaging delivery of Azerbaijani gas to Europe, noted that the company has long-term gas contracts with Shah Deniz Consortium for sizeable volumes to contribute to its gas portfolio.

“TAP is an integrated project of the Shah Deniz Consortium’s (SDC) natural gas supply chain. In the context of the TAP project, Axpo fully counts on gas from Azerbaijan. First gas delivery from Shah Deniz in Azerbaijan to Georgia and Turkey via Trans Anatolian Pipeline (TANAP) is scheduled for late 2018. Gas deliveries via TAP to Europe (Greece/Albania/Italy and further on) are expected in 2020,” said the source.

The pipeline represents an important means of portfolio diversification and reduces Axpo’s dependency on the current, very low wholesale prices for electricity, added the source.

The source noted that Axpo will use the natural gas to supply the European markets.

The Shah Deniz consortium announced on September 19, 2013 that 25-year sales agreements have been concluded for just over 10 billion cubic meters a year of gas to be produced from the Shah Deniz field in Azerbaijan as a result of the development of Stage 2 of the Shah Deniz project.

The contracts on the purchase of Azerbaijani gas from the second phase of Shah Deniz field development (Shah Deniz-2 project) were signed with Shell, Bulgar gas, Gas Natural Fenosa, EON, Gaz de France, Hera, Enel, Axpo, DEPA.

The Shah Deniz Stage 2 project is set to bring gas directly from Azerbaijan to Europe for the first time, opening up the Southern Gas Corridor.

In total 16 billion cubic meters a year of Shah Deniz Stage 2 gas will be delivered through more than 3500 kilometers of pipelines through Azerbaijan, Georgia, Turkey, Greece, Bulgaria, Albania and under the Adriatic Sea to Italy.

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian 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.

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.

TAP is a part of the Southern Gas Corridor, which is one of the priority energy projects for the European Union. The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.

TAP’s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

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Follow the author on Twitter: @Lyaman_Zeyn

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