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EU Ready to Accelerate Signing of Gas Supply Agreements with Azerbaijan and Turkmenistan

The EU intends to sign memorandums of understanding with Azerbaijan and Turkmenistan as part of a package to improve the "stability" of providing Europe with gas in 2015, German media reported last week.

"While solving the problem of diversification of gas supplies to Europe, the European Commission is ready to speed up the conclusion of agreements with such countries as Azerbaijan and Turkmenistan," the media reported with reference to the two documents prepared for the EU Energy Union, which will regulate the cooperation in energy issues in the future.

The EU would like to work out this package by 2016.

"The EU will use all foreign policy tools to strengthen the strategic energy partnership with producer and transit countries," the statement says. "Algeria and Turkey, Azerbaijan and Turkmenistan, the Middle East and several African countries are among them. The project also involves the intensification of partnership with Norway, the U.S. and Canada."

The Southern Gas Corridor is one of the priority energy projects for the EU. The project is aimed at diversification of routes and sources of energy supply and thereby increase EU's energy security.

It envisages the delivery of gas from Azerbaijan's Shah Deniz gas and condensate field to Europe.

The gas to be produced as part of the second stage of the field's development will be exported to Turkey and European markets through the expansion of the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline (TANAP) and the Trans Adriatic Pipeline (TAP).

The first volume of gas from the Shah Deniz-2 will be delivered to Turkey in 2018 and Europe in 2019.

Source: Trend

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