SEARCH MENU
Caspian Energy Journal Caspian European Club
CASPIAN ENERGY NEWS
Most read
Tuesday, 29 May 2018 13:00

Opening ceremony of SGC takes place Featured

Opening ceremony of SGC takes place

President of Azerbaijan Ilham Aliyev has attended an official opening ceremony of the “Southern Gas Corridor” held today at Sangachal terminal, Caspian Energy News (www.caspianenergy.net) reports with reference to the press service of the President of Azerbaijan.

Opening of the jubilee XXV International Caspian Oil&Gas exhibition has also been held today, and the opening ceremony of the SGC was broadcast live at Baku Expo center.

“Implementation of SGC became possible owing to the international cooperation, and the major element of this project is the Azerbaijani field Shah Deniz. Azerbaijan has established itself as a reliable partner on transit of energy resources via its pipelines to the world markets”, President of Azerbaijan Ilham Aliyev said.

“Signing of the TANAP gas pipeline construction contract between Azerbaijan and Turkey in 2012 gave a momentum to the implementation of SGC. We are going to launch this pipeline in Turkey next month. It would be impossible to implement these projects without an international cooperation. I would like to thank the leadership of Turkey and Georgia for cooperation and support. I also would like to thank the leadership of the USA, Great Britain and the EU for the support in implementation of the project. I also extend gratitude to the financial institutes. As a reliable partner, Azerbaijan makes timely payment on its credits and will keep doing it in future as well”, the Head of State of Azerbaijan said.

Adviser for Energy Issues to the Assistant of the US Secretary of State Sandra Odekirk addressed the opening ceremony. Trade envoy of the British Premier Baroness Emma Nicholson read out a letter of the British Prime Minister Theresa May, addressed to the exhibition participants.  Ambassador Erkan Ozoral has read out the letter of the President of Turkey Recep Tayyip Erdogan.

Then, Secretary General of OPEC Mohammed Barkindo, Secretary General of Gas Exporting Countries Forum Yuri Sentyurin and BP Group official Bernard Luni addressed the event.

At the end of the event President Ilham Aliyev launched the Southern Gas Corridor.

Reference:

SGC is a project of energy security, diversification and free competition. Owing to this project, Azerbaijan will export its natural resources for many decades and diversify the European market. For Europe it means a new gas sources which it is in need of. Total cost of the project is estimated at $45bln.

From 2020, 10 bcm will be transported to Europe annually.

TANAP will be implemented in 4 stages. Carrying capacity of the pipeline will be increased up to 16bcm per year in 2020 (10 bcm for Europe and 6 bcm for Turkey), up to 23 bcm in 2023, and up to 31bcm in 2026.

More details: https://az.president.az/articles/28797

Person in charge of the newsline: Fidan Isayeva

Read 125 times
POWERED BY ZEYNURBABAYEV