Southern Gas Corridor is vital infrastructure for gas supplies to Europe - GECF head
BAKU. May 29 (Interfax) - Southern Gas Corridor (SGC) is vital for meeting the growing demand for natural gas in Europe, said Yury Sentyurin, the secretary general of the Gas Exporting Countries Forum (GECF).
"Gas exports will increase 50% by 2024. The European market will become even more appealing, which requires creation of new infrastructure. From this standpoint, SGC is vital infrastructure. Overall this project has great significance for our future agreements and projects. Our cooperation lies at the center of SGC implementation," Sentyurin said at the SGC launch ceremony in Baku on Tuesday.
The SGC launch ceremony was held at the Sangachal terminal.
The SGC project stipulates creation of a gas pipeline system to supply gas produced under Azerbaijan's Shah Deniz Stage 2 to Europe through Turkey. The project will cost an estimated $40 billion.
Its main components are Shah Deniz Stage 2, upgrades to the South Caucasus gas pipeline, from Baku through Georgia to the Turkish border, construction of the Trans-Anatolian gas pipeline (TANAP) gas pipeline from Turkey's eastern to western border, and construction of the Trans Adriatic Pipeline (TAP) gas pipeline, which will link Greece, Albania and southern Italy.
Supply of 10 bcm of Azerbaijani gas to Europe is scheduled to commence in 2020. In addition, 6 bcm of Azerbaijani gas will be delivered to Turkey's western regions.