The Southern Gas Corridor Advisory Council Discussed the Implementation of the Project

• 02.13.2015, 15:12
•  Region,  World

On February12 the first meeting of the Southern Gas Corridor Advisory Council was held in Baku. The main topic of the meeting was the realization of the Southern Gas Corridor project and the problems that may arise during implementation. 

The European Commission’s Vice President in charge of Energy Union, Maros Sefcovic told reporters that the crisis in Ukraine negatively affects the oil and gas supplies to Europe and the EU needs to diversify its energy supply routes. He underlined that the Southern Gas Corridor is a priority for Europe.

"Today’s meeting was useful and successful," he said. "The specialists of BP and other companies explained what difficulties may arise in the project’s realization. We agreed that we will work in line with an action plan that is being developed by the European Commission in cooperation with all the ministers," mentioned Sefcovic.
Moreover, he added that for the EU, the Southern Gas Corridor is the only project, which is being worked on today.

Another participant of the meeting Turkish Minister of Energy and Natural Resources Taner Yildiz announced that the implementation of the Trans-Anatolian gas pipeline project (TANAP) is going on rapidly.

According to the Turkish minister Ankara is seeking alternative energy projects, and TANAP is one of its priorities.

"There are no political and technical problems for the implementation of the TANAP project," Yildiz said.

During the meeting the Georgian side was represented by the Deputy PM/Energy Minister Kakha Kaladze. He also stressed the significant role of the Southern Gas Corridor both for the EU and Georgia.

"Georgia has promised that it is ready to resolve any issues that may arise during the project implementation in the country. The ongoing works within the framework of the Southern Gas Corridor project are more widespread than ever and very important for the other countries involved in the project as well as for Georgia. Investment, employment, energy security, economic development, stability are exactly the results we all expect," - Kaladze said.

The Southern Gas Corridor is considered to be one of the priority energy projects for the EU. This project is aimed at diversification of routes and sources of energy supply and thereby increase EU’s energy security. It envisages the delivery of gas from Azerbaijan’s Shah Deniz gas and condensate field to Europe.

Around six billion cubic meters of this gas will be delivered to Turkey and the rest of the volume to Europe. Turkey will obtain gas in 2018. The gas will be supplied to Europe in early 2020 after the Trans Adriatic Pipeline (TAP) is constructed. The project’s cost is estimated at $10-$11 billion.