Thursday, 26 November 2020 12:41

EON: Gas supplies meet the market requirements of the EU

As Azertag reports, the Spanish news agency EFE notes that Azerbaijan will start commercial gas transportation to Europe at the end of the year via the Trans-Adriatic gas pipeline (TAP), one of the three segments of the Southern Gas Corridor, in which the share of the Spanish company ENAGAS makes 16 percent.

This was said at the meeting between Azerbaijani Energy Minister Parviz Shahbazov and Italian Ambassador to the country Augusto Massari.

Spanish newspapers report that TAP has a production capacity of 10 billion cubic meters of natural gas per year, although with the presence of two compressor stations and modifications, the pipeline's capacity can be doubled to 20 billion cubic meters per year. The cost of the project is estimated at about 4.5 billion euros.

It should be noted that on June 28, 2013, Shah Deniz consortium officially announced the selection of the TAP pipeline for Azerbaijani gas supplies to Europe. The length of the pipeline is 878 km, including 550 km in Greece, 215 km in Albania, 105 km under the Adriatic sea, and 8 km in southern Italy. The highest point of the pipeline is located in the mountains of Albania (1,800 m), the lowest – at the bottom of the sea (-820 m). The TAP groundbreaking ceremony took place on May 17, 2016 in Thessaloniki, Greece.

Azerbaijan has agreed with a number of European companies to supply its gas from Shah Deniz-2 field - Shell, Bulgarian Bulgargas, Spain's Gas Natural Fenosa, Greece's DEPA, Germany's E. ON, France's GDF Suez, Italy's Hera Trading and Enel, and Switzerland's AXPO. According to the contracts, deliveries are expected to be worth $300 billion over 25 years.

"This is a revolutionary contract, as it guarantees supplies to Europe from a new resource region for decades to come, on terms complying with the European market conditions," E.ON  told Caspian Energy.

Currently, the main needs of the EU for this type of environmentally friendly energy resource are provided by Russian Gazprom which supplies more than 160 billion cubic meters per year. Azerbaijan will gradually reach the contract volume of 16 billion cubic meters of gas supplies starting from the end of the year via the Trans-Anatolian gas pipeline, of which 6 billion will be meant for Turkey.

It is noteworthy that the reserves of Shah Deniz field are estimated at 1.2 trillion cubic meters of gas and 240 billion cubic meters of gas condensate.

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