Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Wednesday, December 13, 2017

EU wants to increase import of Azerbaijan gas

Maros Sefcovic, the European Commission's vice president in charge of Energy Union, stated on Wednesday that at the first meeting of the Southern Gas Corridor Advisory Council, they discussed the potential of increasing Azerbaijan's gas supply to Europe.

For the European Union (EU,) the Southern Gas Corridor is a priority for their energy security because it allows the diversification of gas sources.

Technologically, the project is capable of delivering 10 billion cubic meters of gas, but this figure can be increased to 20 billion cubic meters. The Shah Deniz field has great potential," Sefcovic said.

According to a report from the U.S.-Azerbaijan Chamber of Commerce, the second phase of the Shah Deniz development has gas supplies traveling through to Turkey and into Europe across the South Caucasus Pipeline, the Trans Anatolian Pipeline and the Trans Adriatic Pipeline. 

Turkmenistan has indicated that it would like to enter into cooperation in gas supply with the EU, but there are technological and legal barriers that first would need to be resolved.

Organizations in this story

United States - Azerbaijan Chamber of Commerce 1212 Potomac Street, N.W. Washington, D.C. - 20007

Get notified the next time we write about United States - Azerbaijan Chamber of Commerce!