BAKU, Azerbaijan, Feb.3. Romania will become a reliable partner in future development of the Southern Gas Corridor, said Romanian Minister of Energy Virgil-Daniel Popescu, Trend reports.
He was addressing the ministerial meeting of the Southern Gas Corridor Advisory Council held in Baku Feb.3.
“Romania is represented at this event at the highest level, which proves that the country support’s the Corridor’s expansion. The development of such an important gas transportation infrastructure is crucial for strengthening the energy security of the South-East and Central Europe,” said the minister.
Southern Gas Corridor started transportation of Azerbaijani gas to Europe on December 31, 2020. It transports of gas from the Caspian Sea region to European countries through Georgia and Türkiye.
This large-scale project is aimed at diversification of energy supply routes and sources, thereby contributing to strengthening Europe’s energy security. The project’s cost totaled $33 billion, as compared to the forecast $45 billion. Capital expenditures on the SGC project are expected to be fully reimbursed within 8-10 years.
Azerbaijan's export of natural gas to European Union market will stand at 11.6 billion cubic meters as of 2023. Total export of natural gas from Azerbaijan this year will be almost 24.5 billion cubic meters.
Follow the author on Twitter: @Lyaman_Zeyn