BAKU
Shah sea consortium announced officially Azerbaijan's natural gas would be transported through Trans Adriatic Pipeline (TAP) in Azerbaijan's capital Baku.
Officials of Shah sea consortium announced in a conference that TAP was chosen to transport the natural gas produced in Azerbaijani Shah II sea field, which would be carried through Greece, Italy and reach the customers in southern Europe.
Azerbaijani Minister of Industry and Energy Natiq Aliyev, President of State Oil Company of Azerbaijan Republic (SOCAR) Rovnak Abdullayev, British Petroleum's (BP) official responsible for Turkey, Azerbaijan and Georgia Gordon Birrell and several officials attended the meeting.
Birrel announced Shah sea consortium's official decision was TAP, saying they considered commercial efficiency, the possibility of the project's effectuation, technical planning, regulation, transparency, security, possibility to use productive, extension possibilities and social interests during the decision-making period.
He said Azerbaijan would turn into Europe's new natural gas supplier, adding the project would cost $40 billion, including pipelines and they would annually enter the market with 16 billion cubic meters.
As a beginning, 10 billion cubic meters Azerbaijani gas would reach Europe, where additional bases would exist, Birrell said and stressed the gas export to Europe would increase with 'Safak-Asiman' fields in Azerbaijan.
Besides, Aliyev stated, Azerbaijan, Georgia and Turkey's economy would advance more with Shah II sea project, saying, "Each year, Turkey buys 6 billion cubic meters of natural gas from us. This number will increase to 12 billion cubic meters in the future. Baku-Tbilisi-Erzurum natural gas pipeline's transportation power will be increased to 24 billion cubic meters from 8 billion cubic meters. Azerbaijan's potential for total gas exports will reach 60 billion cubic meters. In coming 10 years, investments to Azerbaijani economy will increase in large scale."
TAP consortium with 3 shareholders includes also 42.5% shares of Switzerland's Axpo company's and Norway's Statoil company each and 15% share of Germany's E.ON company.
To kick off TAP project, it's envisioned to start the works in 2015, to lay a pipeline of 870 km, to transport 10 billion cubic meters natural gas annually, where the first one will be practised in 2019. Amount of transported annual natural gas is planned to be redoubled later on.
The Trans Adriatic Pipeline (TAP) is a natural gas pipeline project, which will start in Greece, cross Albania and the Adriatic Sea and come ashore in southern Italy, allowing gas to flow directly from the Caspian region to European markets.
Greek government and Azerbaijani Shah II sea consortium had signed Friday Trans Adriatic Pipeline (TAP), to carry the Azerbaijani natural gas to Europe in an attempt to create replacement to Nabucco project.
The Nabucco project had faced Thursday a removal possibility after Austria's gas and oil company OMV announced its detachment to the project and stated they approved TAP for its being "more economic".
The Nabucco is the gas bridge project from Asia to Europe and the flagship project in the Southern Corridor. It would be a pipeline to connect the world’s richest gas regions, the Caspian region and Middle East to the European consumer markets.
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