Baku, Azerbaijan, June 13
By Ilkin Shafiyev - Trend:
The "Southern Gas Corridor" project is important in terms of improving the energy security of Europe and diversification of gas supplies, Chairman of the Board of Directors of Bulgargaz company, Botyo Velinov said June 13 at the conference entitled as "The Southern Gas Corridor and energy security in southeast Europe".
He believes that, the project is relevant in the context of integration of the European energy system.
Also, as Velinov added, the project will help to reduce the level of carbon dioxide emissions into the atmosphere.
He noted that the financing of the project is proof of trust of European and international credit institutions to the shareholders of the projects within the SGC and their plans.
The "Southern Gas Corridor", the launch ceremony of the first stage of which was held on May 29 in Baku, is one of the priority projects for the EU and provides for the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
At the initial stage, the gas produced within the second phase of development of the Azerbaijani gas condensate field "Shah Deniz" is considered as the main source for the projects of the "Southern Gas Corridor". At a later stage, other sources may be connected to the project.
The gas produced in the second stage of development of the field will be exported to Turkey and European markets through the expansion of the South Caucasus gas pipeline and the construction of the Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) pipelines.