BP says SGC project is company's biggest project
By Gunay Camal
The Southern Gas Corridor project is the biggest project of BP, said Joseph Murphy, BP Vice President for the Southern Gas Corridor.
He announced about this at the Energy Charter Forum, titled “Towards a Multilateral Framework Agreement on Transit of Energy Resources” in Ashgabat.
Highlighting strategic significance of the SGC project, Murphy said 11 world companies invest in this transnational Southern Gas Corridor Project, which will deliver natural Azerbaijani gas to Europe.
The SGC is one of the biggest construction projects with a value of $45 billion which aims to improve the energy security of the EU and diversity its energy supply routes, and creates 30 thousands new jobs for host countries.
The World Bank allocates a loan worth $400 million for construction of the Southern Gas Corridor.
At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.
As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.
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