BAKU, Azerbaijan, Nov.12
By Leman Zeynalova – Trend:
The Southern Gas Corridor is expected to make up 30 percent, 20 percent and 12 percent of Bulgarian, Greek and Italian demand for gas, Trend quoted Luca Schieppati, TAP Managing Director, as saying.
"The Southern Gas Corridor will bring natural gas to Europe from a new source and through a new route, thus reinforcing the Continent's security and diversification of supplies,"Schieppati told DW, adding that —depending on market conditions — TAP could double its capacity to 20 bcm (billion cubic meters) per year with minor modifications to the system.
The project will increase Greece's gas transit role to southeastern Europe and make energy prices in Italy more competitive, he added.
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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