EU to welcome any decision by Shah Deniz consortium

EU to welcome any decision by Shah Deniz consortium

The European Commission will welcome any decision by the consortium of Azerbaijani Shah Deniz gas condensate field development for the selection of the pipeline route, EU Commissioner for Energy Günther Oettinger said at the Edison event in Brussels.

Oettinger said the first success of Southern gas Corridor policy will come when Shah Deniz consortium names its preferred pipeline option for their gas to be delivered to Europe.

“And I want to make it clear that irrespective of the commercial outcome of the award process, the Commission will welcome the decision by the Shah Deniz consortium for the selection of the pipeline,” the Commissioner said.

The Southern gas Corridor, which is the priority project for the EU, aims to diversify energy supply routes and sources and, therefore, increasing energy security of the European countries.

The Southern gas Corridor includes three projects: Nabucco, Trans Adriatic Pipeline (TAP) and ITGI. Gas which will be produced during the second stage of Azerbaijani Shah Deniz gas condensate field development is considered the main resource for these projects.

The projects have already submitted their final proposals to the Azerbaijani side, which review them in accordance with previously announced criteria. The decision on the preferable transportation route is expected until the first quarter of 2012.

Under the Shah-Deniz-2 project, Azerbaijan plans to ship gas to Europe at a volume of 10 billion cubic meters.

Oettinger said the diversification of gas supply is a key to support security of supply in the European Union, which is one of the three pillars of the European Energy Policy. And the Southern corridor will be a much needed source of diversification for the EU, he said.

With regard to the ITGI project, where Italian Edison is one of the shareholders, Oettinger said that it is a regional project that will help to integrate the gas markets in South East Europe and improve the security of supply in the region.

“I think it is a very good plan which benefits from EU financial support in the context of the European Energy Program for Recovery,” he noted.

“To realize the potential of Southern Gas Corridor, I firmly believe that all projects have to work together,” Oettinger added.


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