Gulf Oil and Gas accountACCOUNT

Azerbaijan Launches Pipeline Project To Turkey, Eyes Europe

Source: Reuters 5/29/2018, Location: Asia

Share |
Azerbaijan launched the first phase of a pipeline project on Tuesday to supply gas to Turkey and southern Europe, part of a European effort to reduce reliance on Russian energy supplies. The Southern Gas Corridor pipeline project, which involved $40 billion investment, will supply about 6 billion cubic metres (bcm) of gas a year to Turkey and, by the first quarter of 2020, it will supply a further 10 bcm a year to Europe.

The gas is being lifted from Azerbaijan's Shah Deniz field.

The pipeline will compete with the Russian-built TurkStream pipeline that is due to become operational at the end of 2019.

Russia's Gazprom now supplies about 34 percent of Europe's gas market, the company's main source of revenue.

TurkStream's first line, with a capacity for 15.75 bcm a year, will supply Turkish consumers. In a second phase, it will supply the same amount of gas across Turkey to southern Europe.

The rival project, the Southern Gas Corridor, could be extended if promising new Azerbaijan gasfields, such as Absheron, could be developed, officials have said.

Natural Gas News in Azerbaijan >>

Russia >>  6/8/2018 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Wang Yilin, Chairman of the Board of Directors of CNPC, too...
China >>  6/1/2018 - China's CNPC plans to consolidate billion-dollar underground gas storage assets into one business to expedite an infrastructure upgrade it needs to av...

Azerbaijan >>  5/29/2018 - Azerbaijan launched the first phase of a pipeline project on Tuesday to supply gas to Turkey and southern Europe, part of a European effort to reduce ...
Egypt >>  5/25/2018 - As part of XXII St. Petersburg International Economic Forum, Rosneft, Fleet Energy and Fleetliner Energy S.A. signed a Framework Cooperation Agreement...

Russia >>  5/25/2018 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Pascal De Buck, Chief Executive Officer of Fluxys, took pla...
Russia >>  5/24/2018 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Hemant Kanoria, Chairman of the Board of Directors of Srei,...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Azerbaijan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

More News

 

Oil & Gas Companies in Azerbaijan >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.