Baku Energy Forum - President: Shahdeniz 2 will be completed soon

President: Shahdeniz 2 will be completed soon


“Shahdeniz, one of global gas fields in Azerbaijan, has 1-1.2 trillion cubic meters of gas”, President of Azerbaijan Ilham Aliyev said at the 22nd World Petroleum Congress (WPC).

The head of state said that the field makes up resource base of the Southern Gas Corridor. According to him, Azerbaijan has become a country, which produces and export oil and gas.  

“Azerbaijan had to construct oil and gas pipelines to have access to the world markets. For this purpose, Bak-Tbilis-Ceyhan was built in 2006, Baku-Tbilisi-Erzurum in 2007. Before these pipelines, Bak-Supsa oil pipeline was built. So, a great network was created to transport Azerbaijan’s natural resources to the world market. My brother Recep Tayyip Erdogan and I participated in opening of BTC in 2006. We were thinking of future and exchanging opinions at that time. Our all plans have been realized. Today, we are working on the Southern Gas Corridor. In 2012, we signed a deal with my brother Erdogan on TANAP. TANAP is core of the Southern Gas Corridor. Today, the SGC is being implemented successfully”, he said.

The president noted that the SGC consists of four components: “The first part is Shahdeniz. Shahdeniz 2 project has been completed by 93% and will be completed in the coming months. The second part is South Caucasus Pipeline, which connects Azerbaijan with Georgia. 87% works have been completed in this project. The third part – TANAP has been completed by 77%.We plan to launch this project next year. The fourth part – TAP completed by 44%. The SGC needs $40 billion and major part of this investment has already been made”.

The head of state noted that Azerbaijan’s proven gas reserves make up 2.6 trillion cubic meters: “In the next decades, Azerbaijani gas will meet both regional and European demand. The SGC is implemented by seven countries – Azerbaijan, Georgia, Turkey, Bulgaria, Greece, Albania and Italy. Three Balkan states may join this project in the future. We’ll expand this project in the future because it is an initiative that profitable for every country.  The project shows that all companies and countries participating in this project earn from it. We created a cooperation format that producing country – Azerbaijan, transit and consuming countries are working in here on the basis of common interests. Balance of interests led to successful implementation of the project. There are many technical, economic, financial and political issues. Today, we can say that the SGC will almost be implemented successfully, Azerbaijan will supply both regional and European countries with gas for a long period. Today, the gas is a main factor in ensuring of energy security. Therefore, Azerbaijan is contributing to ensuring of energy security. At the same time, Azerbaijani gas is only source for transportation of gas to Europe. Because, all gas sources are operating. The new sources will supply gas to Europe via a new line.  This is a serious step for energy diversification”.