The Southern Gas Corridor project has strategic importance for the energy security of Europe, said Maros Sefcovic, European Commission vice-president for Energy Union, Feb. 23.
He was addressing the Southern Gas Corridor (SGC) Advisory Council Third Ministerial Meeting in Baku.
Sefcovic said the progress in the Southern Gas Corridor’s construction was achieved not only thanks to the enormous effort and work in all the countries through which this pipeline is routing, but also thanks to the good atmosphere created around the negotiating table regarding the project.
He also underlined the strategic importance of the Southern Gas Corridor project for the EU’s plans to diversify energy supplies and make sure that Europe will remain an open liquid market which welcomes competition and diversified supply of energy.
The EU appreciates the opportunity to have new connection to the very important Caspian basin, to have such an important partner as Azerbaijan in this effort, he added.
“I would also encourage international financial institutions to look into the ways how we can include European financial institutions in financing of this very important project,” he noted.
“I congratulate Azerbaijan’s President Ilham Aliyev on his very successful visit to Brussels,” Sefcovic said. “Because I believe it really opened a new chapter in our relationship. We launched negotiations on the new comprehensive framework agreement, which, I believe, will bring Azerbaijan and the EU closer to each other in many aspects and in many areas.”
The Southern Gas Corridor envisages transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region to Europe via Georgia and Turkey.
The gas will be exported through expansion of the South Caucasus Pipeline and the construction of the Trans Anatolian Natural Gas Pipeline and the Trans Adriatic Pipeline.