Azerbaijan is a strategic partner for the European Union, European Commissioner for Budget and Human Resources Gunther Oettinger said at the 25th Anniversary Caspian International Oil & Gas Conference in Baku on May 31.
"Azerbaijan is a strategic partner for the EU. Baku is important for Europe, also regarding diversification of energy supplies. Here, the Southern Gas Corridor plays a big role. I want to thank the government of Azerbaijan and SOCAR for the implementation of the project, "Oettinger said.
He further noted the necessity of the transport projects implemented by Azerbaijan.
He voiced confidence that Azerbaijan will be able to benefit from its geographical location. Baku is interested in turning the country into a transport hub, a clear indication of what the Baku-Tbilisi-Kars project is, Oettinger said.
He emphasized that the EU is ready to assist Azerbaijan in diversifying the economy.
The Southern Gas Corridor, worth over $40 billion, is considered as one of the priority energy projects for the EU, which strives for diversification of gas sources. The project envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.
At an initial stage, the gas to be produced in 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 Shah Deniz Stage 2, 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 (TANAP) and Trans Adriatic Pipeline (TAP).
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