By Nigar Abbasova
Energy policy of Azerbaijan, as well as the implementation of large-scale energy projects, was among the highest-ranked issues on the agenda of the Cabinet meeting chaired by President Ilham Aliyev on January 10.
President Aliyev, addressing the meeting, said that 2016 saw many important events in the energy sector and the country took further steps directed towards the enhancement of its energy policy.
“Successful implementation of the Southern Gas Corridor (SGC) continued. Though our oil revenues reduced, we obtained the credits from abroad. At the same time, at the expense of internal means, we took all necessary steps connected with the implementation of the SGC and Shahdeniz-2 projects,” he said. “Today, "Shahdeniz-2" is one of the largest gas-condensate fields on global scale – 90 percent of works here already came to an end, and next year they will come to an end completely.”
Reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas and 240 million tons of condensate. The project is expected to increase European energy security by bringing Caspian gas resources to markets in Europe for the very first time. The cost of the project is estimated at $25 billion.
The president further stressed that a considerable part of the Trans-Anatolian Natural Gas Pipeline (TANAP) has already been implemented and work is currently underway on other segments of the SGC project.
“Last year we held the second meeting of the Advisory Council of the Southern Gas Corridor in Baku. All countries participating in the meeting, the European Commission, the United States of America and all members of the SGC once again specified leadership of Azerbaijan in the adopted statement. We are leaders, initiators, leading force of this project. We realize this project jointly with all our friends, the partner countries, and international organizations,” he said.
Being of the most complex gas value chains ever developed in the world, the SGC envisages transportation of 10 billion cubic meters of Azerbaijani gas to European countries through Georgia and Turkey.
Stretching over 3,500 kilometers, crossing seven countries and involving more than a dozen major energy companies, it is comprised of several separate energy projects including TANAP, Shah Deniz 2 development, the South Caucasus Pipeline and the Trans Adriatic Pipeline (TAP).
Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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