...

EU plans to attract investments in expansion of Southern Gas Corridor - Kadri Simson

Oil&Gas Materials 3 February 2023 18:22 (UTC +04:00)
EU plans to attract investments in expansion of Southern Gas Corridor - Kadri Simson
Sadraddin Aghjayev
Sadraddin Aghjayev
Read more

BAKU, Azerbaijan, February 3. EU plans to attract investments in expansion of Southern Gas Corridor, European Commissioner for Energy Kadri Simson said at today's press conference following the results of the 9th Southern Gas Corridor Advisory Council Ministerial Meeting in Baku, Trend reports.

"Azerbaijan aims at increasing the volume of supplies in the SOUTH to 20 billion cubic meters by 2027. We plan to attract investments in the SGC and, from a technical point of view, it does not require much effort, since there is already a pipeline and I am sure that the capacity of the corridor will be increased," she added.

The SGC began supplying Azerbaijani gas to Europe on December 31, 2020. It transports gas from the Caspian Sea region to European countries via Georgia and Türkiye.

This large-scale project is aimed at diversifying routes and sources of energy supplies, thereby contributing to strengthening Europe's energy security. The cost of the project amounted to $33 billion with a forecast of further increase to $45 billion.

Latest

Latest