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British government supports Southern Gas Corridor's completion

15 December 2017 [16:39] - TODAY.AZ

By Azernews


By Rashid Shirinov

The British government supports the early completion of the Southern Gas Corridor project, which involves the transportation of Azerbaijani gas to Europe, said Baroness Rona Fairhead, UK Minister of State for Trade and Export Promotion who is on a visit to Baku. 

The baroness, who is also the co-chairman of the Azerbaijani-British intergovernmental commission, made the remarks at a meeting with Azerbaijani Energy Minister Parviz Shahbazov on December 15.

The sides discussed the energy vector of the relations between the two countries as well as prospects for cooperation not only in the oil and gas sphere, but also in the field of renewable energy.

Shahbazov noted the long-standing leading positions of the oil and gas sector in the Azerbaijan’s economy and said that reforms are currently under way to diversify the economy and develop the non-oil sector.

The minister highly appreciated the activity of Great Britain as a partner of Azerbaijan and the main investor in its energy sector from the first years of the country’s independence, and noted the model of successful cooperation on the example of BP company.

“The implementation of the Shah Deniz-2 project and the signing of a new agreement on the Azeri-Chirag-Gunashli block will ensure the interests of both countries in the long term,” Shahbazov said.

Baroness Fairhead, in turn, assured that the British government supports the energy projects of Azerbaijan implemented with the participation of BP as well as the completion of the Southern Gas Corridor project.

The Southern Gas Corridor, worth $41.5 billion, is one of the priority projects for the EU and provides for the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).

Baroness Fairhead has earlier met with President Ilham Aliyev, First Vice-President Mehriban Aliyeva and signed with Economy Minister Shahin Mustafayev a protocol following the second joint meeting of the Azerbaijan-UK intergovernmental commission on economic cooperation. In the protocol, the sides agreed to further expand cooperation in economy, trade, investments, industry, tourism, energy, education, culture and other spheres.













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