Southern Gas Corridor project opens new opportunities for Caspian Sea region
Southern Gas Corridor (SGC) project opens up new opportunities for the Caspian Sea region, Senior Consultant at the Center of Analysis of International Relations (AIR Center) Shahmar Hajiyev said, Trend reports.
He made the remark at a conference on "Energy Security in Europe: Current Situation, Challenges and Future Opportunities" organized by AIR Center and the International Center for Black Sea Studies (ICBSS).
"All segments of SGC are significant energy infrastructure projects that open up new opportunities not only for Azerbaijan, but also for the Caspian Sea region to export natural gas to European energy markets," Hajiyev said.
According to Hajiyev, the SGC has demonstrated cooperation and integration between all the countries involved in this project, and has also established strong relations with European partners.
"Azerbaijan's export and transit potential will increase, as additional gas supplies from Turkmenistan can fuel the SGC. Therefore, Trans Adriatic Pipeline (TAP) segment will double its export capacity to 20 billion cubic meters," Hajiyev said.
Hajiyev noted that Azerbaijan needs additional gas in order to increase the capacity, which the country plans to receive from the Absheron field and others, also under the gas swap agreement with Turkmenistan.
SGC will need additional investment and time to reach its maximum capacity, and, above all, Azerbaijan must increase production to ensure additional supplies. It is important for Azerbaijan to receive guarantees for the purchase of gas and proposals from EU countries in order to invest in gas exploration and production," he said.
Hajiyev emphasized that it is also important for Azerbaijan to develop renewable energy and energy efficiency in order to reduce local gas consumption, which amounted to about 13 billion cubic meters in 2021.
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