Azernews.Az

The U.S. continues to promote competition and prevent monopolies of energy markets, Secretary of State Hillary Clinton has said.

"Another focus of our energy diplomacy is helping to promote competition and prevent monopolies," Clinton said on Thursday in a speech at Georgetown University on U.S. energy security. "Consider what's been happening in Europe. For decades, many European nations received much of their natural gas via pipeline from one country: Russia. Few other sources were available. But that has now changed in part because of the increased production here in the United States, there's a lot more natural gas in the global market looking for a home. Plus, there's natural gas in the Caspian and in Central Asia. They'd like to sell it, and Europe would like to buy it."

Clinton said they need to build pipelines. She stressed that the United States has been an active partner to the participants of a project called the Southern Corridor, which would stretch across the European continent, to help move this project to fruition.

Azerbaijani gas, which will be produced during the second phase of the Shah Deniz field development is considered as the main source for the Southern Corridor projects, in particular, Nabucco West and TAP (Trans Adriatic Pipeline). Azerbaijan plans to export 10 billion cubic metres of gas per year to Europe within the second phase of Shah Deniz field development.