EU wants more gas from Azerbaijan

A source close to the European Commission has said that the Southern Gas Corridor could provide a diverse market for Azeribaijan's gas market.

EU wants more gas from Azerbaijan

World Bulletin / News Desk

One of the main objectives of the EU’s policy in the Southern Gas Corridor, initiated by Azerbaijan, is to provide other gas sources in the corridor to deliver significant gas volumes to the EU, a source in the European Commission (EC) told Trend July 31.

“Looking at the Southern Gas Corridor, Azerbaijan has always been considered an important gas supply country,” said the source at the EC.

“While Azerbaijan is widely perceived as the enabler of the Southern Gas Corridor to the EU, another objective of the EU’s policy in the Southern Gas Corridor is to enable other sources of gas in the corridor to deliver significant volumes of gas to the EU and provide significant benefits in terms of diversification of supply, competition and security of supply,” the source added.

The Southern Gas Corridor will provide Europe with a chance to vary its sources of hydrocarbon supply and boost its energy security. In turn, this will open a new market for Azerbaijan in Europe.

Azerbaijan’s gas is meant to first go via the Southern Gas Corridor.

Turkmenistan, Iran and Iraq are also interested in delivering gas to Europe in the future.

Some 10 billion cubic meters of gas to be produced at the ‘Shah Deniz’ will go to Europe, while six billion cubic meters of it will be annually delivered to Turkey.

The contract for development of the ‘Shah Deniz’ was signed June 4, 1996.

The field’s proven reserves stand at 1.2 trillion cubic meters of gas and 240 million metric tons of condensate.

During the second stage of development of the ‘Shah Deniz’, gas will be exported to Turkey and Europe through the expansion of the South Caucasus Pipeline and construction of the Trans-Anatolian Natural Gas Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP).

Last Mod: 31 Temmuz 2015, 18:18
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