Southern Gas Corridor ahead of schedule by 30%

The implementation of the Southern Gas Corridor project is ahead of the schedule by 30-32 percent, Azerbaijani Energy Minister Natig Aliyev told reporters on May 13.

The minister added that at the same time, the work on expanding the South Caucasus pipeline and modernization of the Sangachal terminal is carried out successfully.

Furthermore, Aliyev said the world consumption of energy resources will increase by 2035.

“This will also allow to increase Azerbaijan’s role in the world energy market,” said Aliyev. “Our goal is to deliver gas to Europe in the next five years.”

The Southern Gas Corridor will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security and also will allow Azerbaijan to obtain a new market in Europe. Azerbaijani gas is designed to open the Southern Gas Corridor.

As part of ensuring Azerbaijani gas supply to the European market, the final investment decision was made on Dec.17, 2013 on the Stage 2 of the Shah Deniz offshore gas and condensate field’s development. The gas produced at this field will first go to the European market (10 billion cubic meters), while six billion cubic meters of gas will be annually delivered to Turkey.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field’s reserve is estimated at 1.2 trillion cubic meters of gas and 240 million tonnes of condensate.

As part of the second stage of the field’s development, gas will be exported to Turkey and European markets by expanding the South Caucasus gas pipeline and the construction of Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.

SOURCE: Azer News