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Southern Gas Corridor serves Europe’s strategic interests - minister [UPDATE]

30 May 2018 11:35 (UTC+04:00)
Southern Gas Corridor serves Europe’s strategic interests - minister [UPDATE]

By Trend

The Southern Gas Corridor (SGC) serves Europe’s strategic interests in energy security sphere, Azerbaijani Energy Minister Parviz Shahbazov said at the 25th International Caspian Oil & Gas Exhibition and Conference in Baku May 30.

The minister reminded that the launching ceremony of the SGC, which turns Azerbaijan into a serious player in energy geopolitics, took place May 29.

“The Azerbaijani gas is a new source, and the SGC itself is changing the energy map of Europe,” said Shahbazov. “The EU needs new sources and routes to solve its energy goals and achieve security, and the SGC meets these strategic goals. The project will allow Europe to diversify its energy supply.”

The minister also noted that a large number of countries are involved in the project and this shows its scale.

The official opening ceremony of the Southern Gas Corridor was held in Sangachal terminal, Baku May 29.

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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