Georgia to remain a stable transit country – PM
Tbilisi, Georgia, Nov.6
By Nana Kirtzkhalia - Trend:
Georgia will remain a stable and reliable transit country, Georgian Prime Minister Irakli Garibashvili said in his interview with CNN TV channel.
He said Georgia is a key transit country for the Baku-Tbilisi-Ceyhan oil pipeline.
"Moreover, Southern Gas Corridor, on which gas supplies to Europe will start in 2019, will run through Georgia."
The prime minister added that Georgia will provide the delivery of energy resources of the Caspian Sea region to European markets.
The Southern Gas Corridor will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security and also will allow Azerbaijan to obtain a new market in Europe.
On December 17, 2013, a final investment decision was made on the Stage 2 of the Shah Deniz offshore gas and condensate field's development. The gas produced at this field will first go to the European market (10 billion cubic meters).
The gas to be produced as part of the Stage 2 of the field's development will be exported to Turkey and to the European markets by means of expanding the South Caucasus Pipeline and construction of the Trans-Anatolian Gas Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP).
Annual production of gas will increase from 9 billion cubic meters (the first phase) by an additional 16 billion cubic meters in the second phase within the Shah Deniz project.
The contract for development of the Shah Deniz offshore field, which has proven reserve of 1.2 trillion cubic meters of gas, was signed on June 4, 1996.
Edited by SI