Southern gas corridor open up new possibility for Bulgaria
Southern gas corridor opens new possibility for Bulgaria,
Bulgarian Prime Minister Plamen Oresharski said at the signing
ceremony of the final investment decision on the project of the
second phase of the Shah Deniz gas condensate field development in
Baku on december 17.
"The ceremony marks the start of construction of the South gas
corridor which opens new possibility for my country. TAP will pass
close to Bulgaria which is also a good opportunity for
diversification of gas supply," Oresharski said.
Bulgarian Prime Minister also thanked Azerbaijani President Ilham
Aliyev for the invitation to attend this ceremony and wish him
successful work of the pipeline.
Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas. The cost of the second phase of development of Shah Deniz gas condensate field is estimated at $25 billion.
Within the second phase of development it is planned to produce some 16 billion cubic meters of gas (within the first phase - 9 billion), six billion of which will be transported to Turkey and ten billion to Europe.
The consortium of Azerbaijani Shah Deniz gas condensate field development announced its choice of the TAP project in late June, as a gas transportation route to the European markets.
The initial capacity of the TAP pipeline will be 10 billion cubic meters per year with the possibility of expanding to 20 billion cubic meters per year.
Trans-Anatolian (TANAP) gas pipeline will be constructed for transportation of gas through Turkey's territory.