BP hopes to see Iran's gas in Southern Gas Corridor

Baku, Azerbaijan, Oct. 18

By Dalga Khatinoglu - Trend:

British Petroleum Company is willing to get involved in Iran’s upstream sector and see Iranian gas in EU through Southern Gas Corridor, Jonathan Evans, Vice President for Exploration Technical Functions at BP Exploration, told Trend.

“We have Southern Gas Corridor (SGC) project from Azerbaijan to Europe and we hope one day Iranian gas may float to that project”, Evans, who is also a VP Iran Access BP, said on the sidelines of an energy conference in Iran Oct.17.

The 3500-km SGC is aimed to deliver 31 billion cubic metres per year (bcm/y) of gas from Caspian Sea and other sources to the EU. First gas deliveries in restricted amount is targeted for late 2018, with supplies to Georgia and Turkey from Azerbaijan’s Shah Deniz Stage 2 and the level would gradually increase to 16 bcm/d by 2021, of which 6 bcm/y would be purchased by Turkey and the remained volume would be delivered to the EU.

In the second stage, SGC is projected to deliver about 25 bcm/d by 2024 and finally 31 bcm/ in early 2030s.

SGC includes South Caucasus Pipeline Expansion (SCPX), the Trans-Anatolian Natural Gas Pipeline (TANAP) as well as Trans Adriatic pipeline (TAP).

BP has 25.5 percent share in Shah Deniz (including SCPX), 12 percent in TANAP as well as 20 percent in TAP.

For now, Iran has a little idle capacity (about 2 bcm/d) to deliver further gas to Turkey rather than the current 9 bcm/d, but the country plans to develop a $6-billion pipeline with 1850 km length and 30 bcm/y transit capacity, called Igat 9, to bring it South Pars gas to Turkey borders.

Iran plans to export 60-80 bcm/y of gas by 2021. For now, Iran has about 46 bcm/y deals with Turkey, Oman, Pakistan and Iraq. Currently, Iran’s only clientTurkey takes about 9 bcm/y of gas from the Islamic Republic.

The country also wants to complete a LNG plant with capacity 10.4 million metric tons per year (equals to 14 bcm/y) in coming years. “Iran LNG” project had been completed by 52 percent during the pre-sanctions era, but Iran has been talking with foreign companies to resume the project after lifting sanctions in January 2016.

Currently, Iran produces about 270 bcm/y of raw gas, including flaring (11 bcm/y) and re-injection (30 bcm/yr). The country plans to increase this volume to 365 bcm/y by March 2018 and 460 bcm/y by 2021.

Europe has right conditions for "safe reopening" of tourism in summer - EU Commissioner
Europe has right conditions for "safe reopening" of tourism in summer - EU Commissioner
Georgian Adjara creating new platform for tourism development
Georgian Adjara creating new platform for tourism development
Azerbaijan eyes to launch WeChat payment solution
Azerbaijan eyes to launch WeChat payment solution
Loading Bars
Abu Dhabi shares at record high, shrugging off Israel-Palestine tension
Israel's import of Turkish chemicals spikes in value
SOCAR Ukraine temporarily suspends premium fuel sales
Britain to hold meeting to encourage global COVID vaccine take-up
Azerbaijani agrarian agency signs tender to attract judicial services
Purchasing of rapeseed from farmers in Iran continues
CPI up 0.3% in April, well below expectations
Uzbekneftegaz shares data on shipment of sulfur products
Russia’s COVID-19 spread rate surpasses 1 for eight days in a row
Disney World and other U.S. theme parks update mask rules
Troops of Azerbaijan's Nakhchivan garrison to launch new command-staff exercises
Share of non-performing loans in Georgia doubles
EU allocates financial aid for programs in support of Georgian private sector
Government Trading Corporation of Iran unveils volume of wheat purchased from farmers
Iran's free trade zones require private sector investments - President Rouhani
Volume of cargo loaded, unloaded in Iran’s Anzali port decreases
Azerbaijani parliamentary delegation leaves for visit to Italy
Bitcoin rises 5.6% to $49,337.72
Most temples belonging to Udi people are either in ruined or dilapidated condition. Therefore, we will restore them too - President Aliyev
Iran's launches supercomputer
Proxy advisor ISS recommends votes for Chevron CEO, directors
WB talks growth of lending to Azerbaijan's economy
Saudi Arabia's national airline to resume flights to Georgia
Uzbek commodity exchange notes decrease in prices for cotton seeds
Udi people have great historical heritage - President Aliyev
Georgian FM to pay official visit to Kyiv
Iran’s East Oil & Gas Production Company boosts gas extraction
Biggest share of Azerbaijan's GDP accounts for industry
Turkmenistan interested in expanding co-op with Russia’s Lipetsk region
Azerbaijani Armed Forces continue exercises, moving to operational areas (VIDEO)
Georgia sees increase in COVID-19 cases
Iran reveals COVID-19 data for May 16
Russian airline expanding route of flights in direction of Baku
Azerbaijan expected to approve another int'l document on migration issues
Iran government increases pensions
Retail trade indicators up in Kazakhstan
Physical volume of Kazakhstan’s GDP down in 1Q2021
Turkmenistan, Iran talk over increasing sea transportation in Caspian Sea
Ministry talks social benefits paid out to population in Azerbaijan since early 2021
GDP per capita increases in Azerbaijan
Azerbaijan discloses amount of trade surplus for 1Q2021
Azerbaijan creating industrial clusters to develop metallurgical industry
Facilities to be put into operation at Iran's Ilam Airport
Fitch Ratings shares forecast for Azerbaijan's 2021-2022 external public debt
Baku Higher Oil School hosts webinar ‘Women in Engineering: Challenges and Opportunities’ (PHOTO)
Batumi International Airport of Georgia receives first passenger flight after reconstruction
Azerbaijan's Azerishig to purchase metal structures
Russia reports 8,554 COVID-19 cases over the past day
New type power units at Uzbekistan’s Turakurgan TPP to increase electricity production
UAE airlines Etihad, flydubai cancel Tel Aviv flights
Kazakhstan's int'l reserves grow
Georgia introduces new requirements for registration of trucks, buses, and minibusses
Third oil loading berth for Turkmenistan’s Turkmenbashi oil refinery under construction
Monument to famous Azerbaijani singer to be soon installed in Baku (Exclusive) (PHOTO)
Value of coupon payments to investors in Azerbaijan soars - National Depositary Center
Uzbekistan reveals companies interested in construction of solar power plant in Surkhandarya region
Carbon neutrality in 2045 requires managing increasing quantities of decarbonized biogas
UK to make final lockdown easing decision on June 14
French company eyes to co-op with Uzbekistan in using new technologies in agriculture
Bollywood: Big B buys oxygen concentrators, donates ventilators
Germany to finance implementation of projects in Uzbekistan in several areas
Direct delivery of Uzbek export goods to Pakistan implemented through Afghanistan
Uzbekistan, Tajikistan eye increasing trade turnover
Airport in Uzbekistan opens tender for supply of towbar
Cargo movements in Iran’s Chabahar port down
Uzbek finance ministry becomes sole shareholder of Uzbekistan Railways
Uzbekistan eyes attracting Japanese companies for joint production of branded footwear
Airport in Uzbekistan to buy spares for vehicles via tender
Azerbaijan enhancing information security of banks
Weekly review of Turkmenistan’s exchange
Iran’s CBI discloses amount of currency sold at NIMA exchange rate
One of violators of Azerbaijan's state border arrested - Prosecutor General’s Office
Munitions found in Azerbaijan's Khojavand district
Tesla crash victim lauded 'full self-driving' in videos on Tiktok
Central Bank of Azerbaijan unveils volume of lending to government agencies
Azerbaijan sees increase in gold price
Azerbaijani cotton processing plant undergoing reconstruction
ACG oil transshipment from Ceyhan terminal exceeds 75 mb YTD
Azerbaijan demonstrates high growth rates in mobile infrastructure dev't - GSMA Association
Second Sputnik V shipment delivered in India
Israeli, Palestinian delegates to attend UN Security Council’s meeting on May 16
Kazakhstan increases imports of Switzerland-made goods
Georgian Nadi Group Ltd snail farm increases production
Georgia researching manufacturing of airplane parts and repair services
Georgian Dzuguri company to resume production of mineral water
Austria's 4M2021 import value of Turkish grains grows
Azerbaijan boosts import of Turkish-made chemicals
Uzbekistan, Dominica establish diplomatic relations
Turkey sees increase in exports of electrical goods to Georgia
Azerbaijani currency rates for May 16
U.S. fuel crisis eases as pipeline returns to normal after hack
Turkey sees increase in clothes exports to Germany
Iran to pass new water law bill
Uzbekistan reveals COVID-19 data for May 16
Iran to revive thousands of stagnant industrial units
Walmart to buy Israeli virtual fitting room co Zeekit
Azerbaijani Armed Forces begin training exercises
Iran increases wheat purchase guarantee rate
Volume of loans issued to Azerbaijan's public organizations decrease
Iran-Switzerland trade depends on JCPOA talks- official
All news