BAKU, Azerbaijan, January 26. The expansion of the Southern Gas Corridor, which supplies gas from the Caspian Sea region to Europe, was among the topics discussed at the Black Sea Security Conference organized by Caspian Policy Center, Trend reports.
During the conference, it was highlighted that three years of concerted action and planning have led to significant developments, including Türkiye's emergence as a regional gas supplier through agreements with Bulgaria, Romania, Hungary, and Moldova. Additionally, there has been considerable progress in enhancing Türkiye's natural gas import infrastructure, facilitating the delivery of gas to Europe via the Southern Gas Corridor. Discussions also touched upon the potential for increased gas delivery volumes through this corridor.
The importance of the Southern Gas Corridor's full operationalization was underscored during the conference. Partners are actively engaged in efforts to double the volume of gas transported through the corridor by 2027, marking a positive development. These initiatives align with broader strategies aimed at gradually reducing dependence on Russian fuels within the European Union.
Furthermore, attention was drawn to offshore drilling operations in the Black Sea, which are aimed at bolstering the energy security of both Türkiye and Romania while decreasing import reliance. These endeavors reflect a concerted effort to diversify energy sources and enhance regional stability.
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.
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