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Maroš Sefcovic names SGC strategic initiative to bring gas resources to European market

5 July 2016 10:36 (UTC+04:00)
Maroš Sefcovic names SGC strategic initiative to bring gas resources to European market

The Southern Gas Corridor is a strategic initiative, to bring the Caspian gas resources to the European markets.

European Commission Vice-President for Energy Union Maros Sefcovic made the remarks during his interview with Greek news website Naftemporiki.gr July 4.

He noted that the EU will accelerate efforts to open the South Eastern European markets also to the Southern Gas Corridor.

“These efforts are directly linked to the Energy Union framework, as one of its crucial objectives is that each Member State in the region, including Greece, would have access to at least three different sources of gas. The approval of the TAP agreement and the subsequent ground-breaking ceremony are an important step towards completing the Southern Gas Corridor”.

He said that they closely monitor the progress of this project in the three countries involved (Greece, Albania and Italy).

“The recent second Southern Gas Corridor Advisory Council ministerial meeting confirmed the determination of all participating countries and consortia to complete this key infrastructure project in time. Progress has been achieved on all the projects along the Southern Gas Corridor (Shah Deniz II field development, the South Caucasus Pipeline, Trans-Anatolian pipeline and the Trans-Adriatic pipeline) and it is expected that gas will flow by 2019 to Turkey and by 2020 to the EU,” Sefcovic added.

The Southern Gas Corridor is one of the priority energy projects for the EU envisaging transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian Sea region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor project. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.

Azerbaijan will export 6 billion cubic meters a year of Shah Deniz gas to Turkey and 10 billion cubic meters to the European market Europe.

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