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White House: SGC Provides new hope for Stability

White House: SGC Provides new hope for Stability

The Southern Gas Corridor provides new hope and opportunity for stability and prosperity, said the statement released on the website of the White House Nov.15.

“As Greece moves forward on the path to economic recovery, the United States will advocate policies to promote and foster economic growth and further opportunities for US investment,” said the statement.

To further these goals, the United States has pledged its support for energy diversification in Greece through the Trans-Adriatic Pipeline and Greece-Bulgaria Interconnector, which reduce Europe’s dependence on Russian gas and strengthen energy security across the region, according to the White House.

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian Sea region to the European countries through Georgia and Turkey.

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 project. Other sources can also join 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 TANAP and TAP.

Source: trend