(MENAFN- Trend News Agency) BAKU, Azerbaijan, Feb. 3 . The Southern Gas
Corridor has proven beyond any doubt, in the two years since it
became operational, its strategic importance to Europe's energy
security, said President of Romania Klaus Iohannis, Trend
reports.
He was addressing the 9th Southern Gas Corridor Advisory Council
Ministerial Meeting and 1st Green Energy Advisory Council
Ministerial Meeting in Baku Feb.3.
“We have to commend all those who showed vision, political will
and determination to make this Corridor a reality,” he said, adding
that the Corridor becomes even more important at this particular
time, especially when one talks about energy security.
Iohannis pointed out that against this background, the European
Union and the Member States have taken decisive steps to
substantially reduce the dependence on unreliable gas sources, as
they carry a geopolitical price tag that is just too high to
pay.
“This strategic course of action towards trustworthy partners
such as Azerbaijan, has been long advocated by Romania,” he
added.
Southern Gas Corridor started transportation of Azerbaijani gas
to Europe on December 31, 2020. It transports of gas from the
Caspian Sea region to European countries through Georgia and
Türkiye.
This large-scale project is aimed at diversification of energy
supply routes and sources, thereby contributing to strengthening
Europe's energy security. The project's cost totaled $33 billion,
as compared to the forecast $45 billion. Capital expenditures on
the SGC project are expected to be fully reimbursed within 8-10
years.
Azerbaijan's export of natural gas to European Union market will
stand at 11.6 billion cubic meters as of 2023. Total export of
natural gas from Azerbaijan this year will be almost 24.5 billion
cubic meters.
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