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 >>  8/10/2018 - Total announces that the first shipment of Liquefied Natural Gas (LNG) from the second train of the Yamal LNG project in Northern Russia is ready to l...
Egypt >>  8/5/2018 - An Egyptian company plans to start importing gas from Israel for re-export in the first quarter of 2019, sources in the country’s energy sector said, ...

Papua-New Guinea >>  7/20/2018 - Santos has advised that the PNG LNG Project co-venturers have entered into a mid-term LNG sale and purchase agreement (SPA) with PetroChina, for the s...
United States >>  7/18/2018 - Sacgasco Limited is pleased to advise that the Dempsey 1-15 well is flowing natural gas to sales pipelines at a combined rate of 1,300 mcf per day. De...

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.