Economically, Azerbaijan will increase revenues from the sale of energy resources via the Southern Gas Corridor, he added.
“Politically it elevates Azerbaijan’s role in the region,” he said. “In my opinion, that is of great importance in terms of diversification [of energy resources]. What is important, it does deliver new volumes of natural gas.”
The official opening ceremony of the Southern Gas Corridor was held in Sangachal terminal, Baku May 29.
The Southern Gas Corridor, worth over $40 billion, is considered as one of the priority energy projects for the EU, which strives for diversification of gas sources. The project envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.
At an initial stage, the gas to be produced in the Stage 2 of development of Azerbaijan’s Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.
As part of the Shah Deniz Stage 2, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).