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SOCAR President: Azerbaijan is ready to meet Europeâ€™s demand for gas

10 July 2017 09:23 (UTC +04:00)

“We have always felt the support of Turkey in Petkim, TANAP, STAR, Petlim and other projects we implemented as SOCAR”, Abdullayev said.

Touching upon the significance of the Southern Gas Corridor (SGC), the SOCAR President said: “Europe’s demand for gas increased 7.1%. Azerbaijan is ready to met this demand jointly with other suppliers. The SGC is a project meeting long-term interests of Azerbaijan, Turkey and Europe”.

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey. 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 projects. 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.

First gas transportation to neighbour country within TANAP will start in 2018. The planned capacity of the pipeline would be 16 billion cubic metres of natural gas per year at initial stage and would be increased later up to 23 billion cubic metres by 2023, 31 billion cubic metres by 2026.

1,802 km-TANAP will be linked to TAP from 2020 and deliver natural gas that will receive via South Caucasus Pipeline to Europe through Greece, Albania and Italy.

The pipeline is expected to cost US$9.2 billion. Azerbaijan will spend $6.1 billion.

TANAP shareholders: SOCAR - 58%, Botas – 30% and BP – 12%.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 878 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

TAP’s shareholding is comprised of BP (20%), Southern Gas Corridor (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).