European Commission President: Southern Corridor project is a "win-win situation"

A Joint Declaration on Southern Gas Corridor signed the day before has great importance and demonstrates the sides' interest in its implementation, President of the European Commission Jose Manuel Barroso, who is on visit to Azerbaijan, told journalists today.

A Joint Declaration on Southern Gas Corridor and several other documents were signed by the President of the European Commission and Azerbaijani President Ilham Aliyev in Baku on Thursday.

The Southern Corridor project is of interest for all sides, this is the so-called "win-win situation". In addition to the fact that the project will allow diversifying gas supplies to Europe, which is of prior interest for the EU countries, it will also contribute to the development of Azerbaijan's infrastructure and allow it entering the world market," Barroso said.

According to him, within the Nabucco gas pipeline project first commercial decisions should be taken by the companies involved in the project.

"I mean further steps to implement the project on issues related to the Shah-Deniz field," he said.

This is the high priority project for the EU. The European Commission has called it "Project of European interests". The EU believes that the implementation of the Nabucco project has a strong economic ground, Barroso added.

The Southern Corridor is a priority EU energy project diversifying energy supply routes and sources and increasing EU energy security. The Southern Corridor includes: the Nabucco gas pipeline, Trans Adriatic Pipeline (TAP), White Stream, and ITGI (Turkey-Greece-Italy pipeline).

Azerbaijani Shah Deniz field with reserves of 1.2 trillion cubic meters of gas is considered as one of the main gas sources for these projects.


/Trend/