“Investor`s Business Daily” issues article on Azerbaijan
Washington, December 19 (AZERTAC). US economic publication “Investor`s Business Daily” has published an article titled “As Keystone Stalls Azerbaijan Steams Ahead With Pipeline” by Denny Rehberg.
The article reads: “As the Keystone XL pipeline languishes, the details of another, far more complex, pipeline project in Eurasia`s Southern Gas Corridor are beginning to take shape.
Much like the Keystone XL project, the Southern Gas Corridor and its Trans-Anatolian Pipeline (TANAP) will provide secure and reliable energy resources to global markets.
With the announcement of TANAP`s final investment decision expected in the coming weeks, I urge leaders in the U.S. to voice their support and reaffirm their commitment to developing complex energy projects that enhance global energy security and serve to promote greater regional stability through meaningful economic cooperation.
The Southern Gas Corridor is a proposed project that will deliver natural gas from Azerbaijan`s Shah Deniz field to European energy markets through a network of pipelines.
Spearheaded by the State Oil Company of Azerbaijan Republic (SOCAR), the TANAP pipeline will serve as the cornerstone of the Southern Gas Corridor. Once constructed, TANAP would transport an initial 570 billion cubic feet per year of natural gas from Azerbaijan, across Turkey, and interconnect with existing and proposed European pipelines.
SOCAR and its group of international partners recently selected the Trans-Adriatic Pipeline (TAP) as the initial interconnection pipeline. Together, TANAP and TAP will deliver a reliable and secure natural gas supply to Southern Europe along a route that would transit Azerbaijan, Turkey, Greece, Albania and the Adriatic Sea before terminating in Italy.
Additional interconnections are expected to be made with existing European pipelines — such as Nabucco West — that will deliver surplus supplies to Central Europe.
Projects such as the Southern Gas Corridor are not only complicated due to their sheer size; they are complicated by the vast number of national, commercial and political interests that must be addressed to achieve final approval.
In the case of the Southern Gas Corridor, full implementation will require the approval of at least 10 national governments and account for the political, economic and social interests of millions of people from different ethnic, religious and cultural backgrounds.
So, why is this important?
First and foremost, it is important because the development of the Southern Gas Corridor will forever improve Europe`s energy security by diversifying its supply and reducing its dependence on foreign supplies of natural gas from unstable regions.
It will also serve to offset the leverage that can be applied on our European allies by regional energy suppliers such as Russia and stand as a physical link between the participating countries who will be united in their efforts to ensure the long-term success of the pipeline.”
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