Azerbaijan to decide on pipeline project soon

Azerbaijan to decide on pipeline project soon


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Azerbaijan’s state oil company SOCAR President Rovnaq Abdullayev said  that the route for the transportation of natural gas from Azerbaijan to Europe should be selected by late October or November. Groups managing Nabucco, the Interconnector Turkey-Greece-Italy (ITGI) and the Trans Adriatic Pipeline (TAP) projects have submitted proposals to Azerbaijan. Baku could deliver at least 10 billion cubic metres of natural gas per year from its Shah Deniz-2 project in the Caspian Sea through whichever project it picks. All of the projects are part of the so-called Southern Corridor of transit networks for European consumers.
Azeri Press Agency quoted Abdullayev as saying that a groundbreaking ceremony for an oil refinery in Turkey was planned for 25 October. He added that SOCAR was a major investor in the project. Asked if he expected to sign a gas agreement with Ankara, Abdullayev said Baku was "preparing for it."
Meanwhile, Azerbaijan’s Deputy Minister of Industry and Energy Natig Abbasov said that Azerbaijan produced above 50 million tonnes of oil and 26bn cubic metres of gas in 2010. “Discovery of new gas field turned Azerbaijan into gas export and the country completely provided its energy security. Currently, gas reserves of the country are more than 2.5bn. Azerbaijan carries out measures in direction of development of electric power and renewable energy fields as well,” Abbasov said at a round-table with the EU.
Edyta Novak, adviser of EU’s Azerbaijan representation on energy sphere spoke about INOFATE program, technical assistance allocated within the program and noted that, Azerbaijan participated in this program actively, since it started: “Generally, Azerbaijan plays an important role in South Corridor”.
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