BAKU, Azerbaijan, Dec. 24
By Leman Zeynalova – Trend:
The total progress in the second phase of development of Azerbaijan’s Shah Deniz gas and condensate field, which is a part of the Southern Gas Corridor project, is 94 percent, Ibrahim Ahmadov, deputy head of the public relations and events department at Azerbaijan’s state oil company SOCAR, told Trend.
“The progress in the Trans Adriatic Pipeline (TAP) is 90.7 percent, while the South Caucasus Pipeline Expansion and the Trans Anatolian Natural Gas Pipeline (TANAP) projects are nearly 100 percent complete,” he said.
Ahmadov noted that as a result of cost saving in TANAP project, Azerbaijan and SOCAR managed to reduce the total expenditures on the Southern Gas Corridor by more than $5 billion.
The Southern Gas Corridor project aims to increase and diversify European energy supply by bringing gas resources from the Caspian Sea to markets in Europe.
The Southern Gas Corridor comprises the following four projects: (i) operation of Shah Deniz natural gas-condensate field (“SD1” project) and its full-field development (“SD2'” project), (ii) the operation of the South Caucasus Pipeline (“SCP” project) and its expansion (“SCPX” project), (iii) the construction of the Trans-Anatolian Natural Gas Pipeline (“TANAP” project) and (iv) the construction of the Trans Adriatic Pipeline (“TAP” project) (SD2, SCPX, TANAP and TAP collectively, the “Projects”).
The Projects have an estimated investment cost of approximately $40 billion. Upon completion, the SD2 project will add a further 16 bcm of natural gas per annum to 10.9 bcma (maximum production capacity) already produced under SD1 project.
Total length of the newly constructed SCPX, TANAP and TAP pipelines will be more than 3,200 kilometres.
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