TODAY.AZ / Business

Spanish companies studying Azerbaijan’s renewable energy projects

02 July 2020 [10:00] - TODAY.AZ

By Trend


Spanish companies have been invited to consider Azerbaijan’s renewable energy projects and bid for them, Charge d'Affaires of the Embassy of the Kingdom of Spain in Azerbaijan Ignacio Sanchez Taboada told Trend.

"The Ministry of Energy has sound projects to further develop renewable energy in Azerbaijan. Spanish companies have been invited to consider those projects and bid for them. The pandemic has provisionally stopped this process, but we know some Spanish companies are studying it with deep interest," he said.

He also highlighted the significance of the Southern Gas Corridor (SGC) project, which will deliver Azerbaijani gas to Europe.

"SGC is a strategic infrastructure not only for Azerbaijan, but also for the EU, and so we have declared it. Spain will not be a direct beneficiary or consumer of the Azerbaijani gas, but Spanish citizens will benefit from a more integrated energy European market, thanks to this infrastructure," added Taboada.

The Southern Gas Corridor comprises the following four projects: (i) operation of Shah Deniz natural gas-condensate field ("SD1" project) and its full-field development ("SD2'" project), (ii) the operation of the South Caucasus Pipeline ("SCP" project) and its expansion ("SCPX" project), (iii) the construction of the Trans-Anatolian Natural Gas Pipeline ("TANAP" project) and (iv) the construction of the Trans Adriatic Pipeline ("TAP" project) (SD2, SCPX, TANAP and TAP collectively, the "Projects").

The projects have an estimated investment cost of approximately $40 billion. Upon completion, the SD2 project will add a further 16 bcm of natural gas per annum to 10.9 bcma (maximum production capacity) already produced under SD1 project.

He pointed out that Spanish companies are operating in a variety of economic fields, from oil and gas, engineering, transport infrastructures to agriculture.

"Some Spanish companies have been invited to make offers in renewable energy. We consider there is enough room in the market for Spanish companies in tourism, fashion retailer, gastronomy and restauration, etc.," said Taboada.

URL: http://www.today.az/news/business/195048.html

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