“The Southern Gas Corridor is a strategic initiative to bring Caspian gas resources to the European markets. This diversification objective has been emphasized both in the European Energy Security and the Energy Union strategy”, Commission Vice-President for Energy Union Maroš Šefčovič said in the exclusive interview to Caspian Energy News (www.caspianenergy.net).
He reminded that the key projects of the Southern Gas Corridor, the expansion of the South-Caucasus Pipeline, TANAP and TAP have been identified as Projects of Common Interest and have been also included in the list of critical projects under the European Energy Security Strategy.
Maroš Šefčovič said: “Azerbaijan is an important energy partner for the EU, currently supplying around 5% of the EU's oil demand but Azerbaijan's pivotal role is related to its position as an “enabler” of the Southern Gas Corridor to bring Caspian gas resources to the EU markets. Its timely completion is critical, so that gas from the new suppliers can flow to Europe by 2020”.
According to Maroš Šefčovič, as stated in the Energy Union framework strategy, energy diversification is crucial for ensuring secure and resilient energy supplies to EU citizens and companies. “In this context, the European Union is particularly committed to diversification of gas suppliers (countries), counterparties (companies) and routes”, the Vice-President stressed.
“TAP will not only increase the supply. It will also strengthen economic cooperation between EU and neighbourhood countries by opening possibilities for building new interconnectors and storages”, Maroš Šefčovič said.
“We follow up every advancement on TAP construction very closely. The economics and technicalities of the project do not pose any barriers at the moment and the project is on time despite some delays related to the landing point in the region of Puglia, Italy,”, the Commission Vice-President for Energy Union highlighted.
According to Maroš Šefčovič, in order to successfully coordinate the implementation of the Southern Gas Corridor, President of the Republic of Azerbaijan Ilham Aliyev established the Southern Gas Corridor Advisory Council, co-chaired by the European Commission; the 3nd Ministerial Meeting will be held in Baku on 23 February.
The invited participants to the meeting are the Ministers of Energy of Albania, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Georgia, Greece, Italy, Montenegro, Serbia and Turkey, representatives from United Kingdom and the United States, as well as senior executives of shareholder companies of the Shah Deniz Upstream and the South Caucasus Pipeline Expansion projects, Trans Anatolian Pipeline and Trans Adriatic Pipeline projects, and other participants including central global and European financial institutions.
Please read the full interview in the fresh issue of Caspian Energy journal
Person in charge of the newsline: Jeyhun Bayramov