Southern Gas Corridor project (SGC), which envisages transportation of Azerbaijani gas to Europe, is important for Hungary in terms of diversification, Hungarian Ambassador to Azerbaijan Viktor Szederkenyi told Trend.
"For Hungary energy security is a priority. So we actively seek opportunities for diversification of the energy flow, especially natural gas imports. Azerbaijani gas is a real alternative and as such it will be in our focus when looking at diversification options. The Southern Gas Corridor is important for us to diversify the sources and directions as well, so we examine this project as a good option," said the envoy.
Szederkenyi said Hungary appreciates the role of Azerbaijan which initiated this big project and will supply it with gas.
"One of the tasks now is linking Hungary to the Southern Gas Corridor through interconnectors between the countries in our region. Through the TAP and TANAP projects Azerbaijani gas will be commercially available on the European markets – this is great news," said the Hungarian diplomat.
He went on to add that SGC has a strategic relevance.
"Not only Hungary but also all countries of Europe, interested in diversification of their sources of supply, value this. The SGC will allow Europe to diversify natural gas sources and transport routes and it changes the energy balance in South-Eastern Europe. This strengthens the openness of the European energy market and the actual competitive position," noted Szederkenyi.
The diplomat said it is also important that the Southern Gas Corridor can be extended by new users and source countries in the future.
"In addition, the success of SGC can be used in cooperation in other areas, such as alternative energy, environmental issues and so on," he said.
Southern Gas Corridor envisages transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
On May 29, Baku hosted the launch ceremony of the first phase of the Southern Gas Corridor project.
The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline.
The Southern Gas Corridor project aims to increase and diversify European energy supply by bringing gas resources from the Caspian Sea to markets in Europe. The Southern Gas Corridor comprises the following four projects: (i) operation of Shah Deniz natural gas-condensate field ("SD1" project) and its full-field development ("SD2'" project), (ii) the operation of the South Caucasus Pipeline ("SCP" project) and its expansion ("SCPX" project), (iii) the construction of the Trans-Anatolian Natural Gas Pipeline ("TANAP" project) and (iv) the construction of the Trans Adriatic Pipeline ("TAP" project) (SD2, SCPX, TANAP and TAP collectively, the "Projects").
The Projects have an estimated investment cost of approximately $40 billion.
Upon completion, the SD2 project will add a further 16 bcm of natural gas per annum to 10.9 bcma (maximum production capacity) already produced under SD1 project.
Total length of the newly constructed SCPX, TANAP and TAP pipelines will be around 3,206 kilometers.
Follow us on Twitter @AzerNewsAz