Baku, November 19, AZERTAC
The European Commission adopted a list of 195 key energy infrastructure projects, known as projects of common interest (PCIs), with the Southern Gas Corridor featured in the list.
Projects of Common Interest will enable the gradual build-up of the Energy Union by integrating the energy markets in Europe, by diversifying the energy sources and transport routes, the European Commission’s report said.
A budget of 5.35 billion euros has been allocated to trans-European energy infrastructure under the CEF from 2014-2020, helping projects of common interest to get implemented faster and making them more attractive to investors, the report said.
The list of projects is an update of the PCI list adopted in October 2013. The list includes 108 electricity, 77 gas, 7 oil and 3 smart grids projects.
The Southern Gas Corridor envisages the transportation of gas from the Caspian region to the European markets.
In particular, the European Commission has included projects allowing gas flows from the Southern Gas Corridor and/or LNG terminals in Greece through Greece, Bulgaria, Romania, Serbia and further to Hungary, including reverse flow capability from south to north and integration of transit and transmission systems.
Expansion of the South-Caucasus Pipeline, Trans Anatolia Natural Gas Pipeline (TANAP), Trans Adriatic Pipeline (TAP), Interconnection Greece — Bulgaria (IGB), as well as the Trans Caspian pipeline are among the included in the PCI list projects.