The "Southern Gas Corridor", implemented by Azerbaijan, is a project uniting all elements of energy security and diversification, Azerbaijan’s Energy Minister Parviz Shahbazov said during his speech on 27th World Gas Conference in Washington, Azerbaijan's Energy Ministry told Trend June 26.
The minister noted the importance of this project for Azerbaijan, and also said that in addition to the existing gas-rich markets, SGC will ensure gas supplies to the European market.
"In the 21st century, Azerbaijan, as the country that defined the main direction of the energy policy as a producer and exporter of gas, created a 3500 km pipeline system and a broad infrastructure network for the development of the Shah Deniz field. The "Southern Gas Corridor" is a project, which will allow Azerbaijan to receive dividends not only as a supplier country, but also as a transit country", Shahbazov said.
In his speech, the minister also noted that SGC and its components are the first sustainable project that meets the long-term strategic goal of creating a pan-European diversified energy market.
The launching ceremony of the first stage of the Southern Gas Corridor project was held in Baku on May 29, and the opening ceremony of TANAP was held in the Turkish province of Eskisehir on June 12.
Thus, the first gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the southern gas corridor - from the expanded for Shah Deniz-2 Sangachal terminal to the expanded South Caucasus gas pipeline.
The TANAP pipeline is laid from the Georgian-Turkish border to the western border of Turkey. TANAP together with another gas – Trans-Adriatic pipeline (TAP) is part of the "Southern Gas Corridor" project, which provides for the transportation of gas from the Azerbaijani "Shah Deniz" field to Europe.
The initial capacity of the TANAP pipeline is expected to be 16 billion cubic meters of gas per year. About six billion cubic meters will be supplied to Turkey, and the rest - to Europe. After the completion of the TAP, the gas will be delivered to Europe approximately in the early 2020.
The transfer of BOTAS’ gas transit assignment to the private sector is associated with the plans of the Turkish company for TANAP, where BOTAS' share is 30 percent.
The share distribution of TANAP shareholders is as follows: Southern Gas Corridor CJSC - 51 percent, SOCAR Turkey Enerji - 7 percent, BOTAS - 30 percent, and BP - 12 percent.
Follow us on Twitter @AzerNewsAz