13 December 2017

President: "Some of energy reserves are being exhausted"

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We need the Southern Gas Corridor because we have to export our gas to the biggest market, which is Europe.

Europe also needs this project because they need additional sources of gas, because European development needs additional energy. Some of the existing reserves, which supplied Europe, are being exhausted. They need new reserves, President of the Republic of Azerbaijan Ilham Aliyev said at the meeting with a group of participants of the 5th News Agencies World Congress.

The head of state noted that the proven gas reserves of Azerbaijan are 2.6 trillion cubic meters. According to him, it will be enough to supply European consumers with gas for decades: “We never considered this project as a kind of alternative or kind of competitor to any other gas projects being implemented in the region. Our project is only aimed at the target, which I identified – to produce, to supply, to satisfy the needs of consumers, to make happy transit countries, and also to earn money for the country. So implementation of the project is on schedule. There were certain delays in Europe regarding some ecological concerns. But, as far as I know, they have been already resolved. In 2018, TANAP project will be commissioned on time. And we hope that by 2020 the rest part of the Southern Gas Corridor will be implemented. But again I would like to say that we need to continue very close international cooperation between seven countries involved in the project, which are Azerbaijan, Georgia, Turkey, Greece, Bulgaria, Albania, Italy and two more countries of the Balkans – Croatia and Montenegro – expressed their willingness to join the project at a later stage.

2016.11.18 / 15:44
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