DEPA expects surge in Azeri gas exports to Greece
Chairman and CEO of Greece’s DEPA company, Harry Sachinis, has said
transporting gas from Azerbaijan to Greece is expected to surge
after a new interconnector pipeline is built linking his country
with Bulgaria in two years.
Sachinis said during a visit to Baku that DEPA and Azerbaijan’s state energy firm SOCAR are closely cooperating.
"Azerbaijani gas is currently being exported to Greece through Turkey. The present volume of supplies is 700 million cubic meters a year. We hope that once Azerbaijan and Turkey have signed an agreement, forging direct ties between DEPA and SOCAR will be possible, given that Azerbaijani gas we are buying now is being transported under an agreement between DEPA and Turkey's Botas."
Sachinis said DEPA was interested in importing additional gas from Azerbaijan.
"Due to the ongoing financial crisis in Greece, the volume of purchased gas will not be great this year and next year. However, once the new Interconnector between Greece and Bulgaria is ready in two years, we expect the bulk of gas transported from Azerbaijan to Greece and further to Bulgaria to considerably increase. We believe that the existing Interconnector between Turkey and Greece and the Greece-Bulgaria Interconnector that will be ready in two years will allow Azerbaijan to export gas not only to Greece but also to southeastern Europe."
Sachinis said the Turkey-Greece-Italy (TGI) pipeline is considered a more prospective project compared to other energy projects aiming to export energy resources to European markets.
"I would like to note the fact that there is no need to expect the development of a new gas field for the TGI project. The volumes to be produced during the Shahdaniz 2 project are ideally suitable for TGI," the DEPA CEO concluded.
Azerbaijan produces most of its gas from the giant Shahdaniz field in the Caspian Sea, which launched production in 2006. The field, operated by an international consortium, has the capacity to produce 318 billion feet of gas from its initial phase, with another 706 billion cubic feet expected from Phase 2, which is to begin in 2013. During the second stage of Shahdaniz development, Azerbaijan plans to export its gas to Europe.*
Sachinis said during a visit to Baku that DEPA and Azerbaijan’s state energy firm SOCAR are closely cooperating.
"Azerbaijani gas is currently being exported to Greece through Turkey. The present volume of supplies is 700 million cubic meters a year. We hope that once Azerbaijan and Turkey have signed an agreement, forging direct ties between DEPA and SOCAR will be possible, given that Azerbaijani gas we are buying now is being transported under an agreement between DEPA and Turkey's Botas."
Sachinis said DEPA was interested in importing additional gas from Azerbaijan.
"Due to the ongoing financial crisis in Greece, the volume of purchased gas will not be great this year and next year. However, once the new Interconnector between Greece and Bulgaria is ready in two years, we expect the bulk of gas transported from Azerbaijan to Greece and further to Bulgaria to considerably increase. We believe that the existing Interconnector between Turkey and Greece and the Greece-Bulgaria Interconnector that will be ready in two years will allow Azerbaijan to export gas not only to Greece but also to southeastern Europe."
Sachinis said the Turkey-Greece-Italy (TGI) pipeline is considered a more prospective project compared to other energy projects aiming to export energy resources to European markets.
"I would like to note the fact that there is no need to expect the development of a new gas field for the TGI project. The volumes to be produced during the Shahdaniz 2 project are ideally suitable for TGI," the DEPA CEO concluded.
Azerbaijan produces most of its gas from the giant Shahdaniz field in the Caspian Sea, which launched production in 2006. The field, operated by an international consortium, has the capacity to produce 318 billion feet of gas from its initial phase, with another 706 billion cubic feet expected from Phase 2, which is to begin in 2013. During the second stage of Shahdaniz development, Azerbaijan plans to export its gas to Europe.*
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