Azerbaijan has new promising gas fields that can help to further expand Azerbaijan’s gas exports to Europe, whereas European Union may be interested in gas supplies from fields that are yet to be developed, AzerNews portal reports.
As part of its security policy, the EU may be interested in further gas supplies from the Caspian Sea under suitable conditions. The EU’s energy diversification policy is aimed not only at new gas sources, but also at new supply routes. From this point of view, the Southern Gas Corridor (SGC) is essential for diversifying energy supplies to the EU.
Once the project is completed, the EU will receive 10 bln cubic meters of gas from Shah Deniz-2 in Azerbaijan. There are technical capabilities to expand this gas pipeline since SGC was originally designed so that its capacity can be doubled.
Earlier, BP, operator of Shah Deniz field, said that Azerbaijan’s fields such as Shafag-Asiman and Umid-Babek can be used to expand the SGC by supplies from other Azerbaijani fields or from other countries.
The SGC, a $40 bln worth project, envisages the transportation of natural gas to Turkey and Europe through the pipeline, which will be operated within the second stage of the Shah Deniz gas condensate field project in the Azerbaijani sector of the Caspian Sea. Gas produced within Shah Deniz Stage 2 will be transported from the Caspian Sea to Europe through Italy, Georgia, Turkey, Greece, Bulgaria, Albania and the seabed of the Adriatic Sea.
SGC is one of the most ambitious projects in the world oil and gas industry, as well as a complex target that involves many different stakeholders, including seven governments and 11 companies.