BAKU, Azerbaijan, June 6. The Southern Gas Corridor appears to be an anchor of stability, Senior Director for the Global Energy Center at Atlantic Council Landon Derentz said during the "Oil Flows: Cross-Logistics and Infrastructure Development in Azerbaijan" panel at the 29th Baku Energy Forum, Trend reports.
"The Southern Gas Corridor serves as an anchor of stability, representing a significant opportunity rooted in Azerbaijan's historical reliability as a gas supplier to the European market. This moment presents an opportune time to capitalize on this realization," he stated.
To note, Azerbaijan kicked off gas transportation to Europe through the Southern Gas Corridor on December 31, 2020. This corridor greases the wheels for gas transportation from the Caspian Sea region to European countries, cutting through Georgia and Türkiye. With a whopping price tag of $33 billion, it's expected to break even within 8–10 years.
More than 600 delegates are participating in the above forum, which started on June 5. In addition to Azerbaijan, representatives from Australia, Austria, Belarus, Belgium, Bulgaria, the UK, Hungary, Georgia, Israel, India, Italy, Kazakhstan, Qatar, China, Latvia, Monaco, the Netherlands, Norway, the UAE, Russia, Romania, Saudi Arabia, Slovenia, the US, Uzbekistan, Ukraine, Finland, France, the Czech Republic, Switzerland, Sweden, and Japan will also be present. This year, the forum has a record number of speakers - 81.
The forum's agenda includes critical energy issues for both Azerbaijan and the entire Caspian region. Key points on the agenda focus on reviewing and financing projects related to energy security, the energy transition, and green energy.
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