Realization of the Southern Gas Corridor will form a basis for increase of regional energy security, as well as growth in economies of those countries.

The economic growth will support extension of bilateral links, Azerbaijani Ambassador to Greece Rahman Mustafayev said.

The ambassador noted that SOCAR is closely cooperating with the Greek companies on construction of pipelines and compressor stations in Greece: “Worth of signed contracts exceeded €1.5 billion. This will contribute to Greek economy”.

Mustafayev also touched upon privatization of Greek gas transmission system operator DESFA by SOCAR. He said the issues on privatization were discussed with Greek Deputy Prime Minister Yannis Dragasakis: “Azerbaijan is not only a country pursuing an independent and active energy policy, it is also serious and reliable partner on realization of investment projects. We have proved this in Russia, Montenegro, Georgia, Switzerland, Ukraine, Turkey, Iran, Serbia and other countries. If Greece agrees, we can demonstrate it in DESFA privatization too. We hope Greece will respect our position and support it and this will complete the negotiations successfully. Italy’s Snam Company is guarantor of future investments”.