Baku, Azerbaijan, Nov.6
By Leman Zeynalova – Trend:
Gas demand in the EU is expected to increase by 5.9 percent in 2017 year-on-year and reach 488.9 billion cubic meters, according to the new forecast by Eurogas.
This data confirms a steady trend, not only in the weather-dependent heating and cooling sector, but also in power generation and in a new market for gas: transport.
On average, assuming normal weather conditions, the forecast increase of gas in the second half of 2017 will reach 5.4 percent year-on-year, according to Eurogas. These estimates are the result of an annual survey carried out by Eurogas amongst its members, covering 84 percent of the EU gas market.
“While cooler weather in 2017 meant an increase in gas demand in some EU member states, other drivers were also at play. Continued economic growth and the replacement of coal-fired power plants with modern power generation using gas resulted in higher demand,” said the report from Eurogas.
Currently, the Southern Gas Corridor, which is currently being implemented by Azerbaijan and its foreign partners, is a significant project envisaging Azerbaijani gas to Europe, thereby ensuring diversification of energy supply routes to this continent.
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.