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30% of work on Southern Gas Corridor Project Completed, says SOCAR

As many as 30 percent of the work on the implementation of the Southern Gas Corridor project has already been completed, German media reported citing Rovnag Abdullayev, president of the State Oil Company of Azerbaijan.

"Contracts have been signed with 162 suppliers from 23 countries," said Abdullayev, adding that the total cost of these contracts exceeds 10 billion euros.

Currently, over 9,500 people work on the project, he said.

Furthermore, the company's president said that seven producing wells have been drilled as part of the Shah Deniz-2 project, while the construction of a compressor station in Georgia and manufacturing of pipes is going at full speed.

Abdullayev added that new era will begin in Europe's energy security once Azerbaijani gas is supplied to Europe in 2020.

The Southern Gas Corridor is one of the priority energy projects for EU. It envisages the transportation of gas from the Caspian Sea region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of 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 Stage 2 of the Shah Deniz development, 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 and Trans-Adriatic Pipeline.

The cost of the projects is estimated at $45 billion.

Source: Trend

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