(MENAFN- Trend News Agency) Details added (first published: 13:00)
BAKU, Azerbaijan, February 3. Italy
has all the infrastructure to transport natural gas exported from
Azerbaijan to other European countries, said Italian Minister of
the Environment and Energy Security Gilberto Pichetto Fratin at the
meeting of the Southern Gas Corridor Advisory Council, trend reports.
'The Southern Gas Corridor is the most important
international energy project of Azerbaijan,' he said.
He noted that the relations between Italy and
Azerbaijan are developing along an ascending line. Italy continues
to work on increasing the capacity of the Trans-Adriatic Gas
Pipeline (TAP) to increase the volume of gas exported by Azerbaijan
to Europe. Azerbaijan has large gas reserves and will increase its
gas exports to Europe from 10 to 20 billion cubic meters in 2027.
Thus, Italy is creating a new infrastructure so that in the future
it can receive and distribute up to 30 billion cubic meters of
gas.
'Southern Gas Corridor is the most important energy
project of international significance promoted by Azerbaijan.
Considering Azerbaijan a reliable partner, Italy not only supported
this project but also, by joining it, did crucial work on the
implementation of TAP, which is an integral part of the project,'
said the minister.
Southern Gas Corridor started transportation of Azerbaijani gas
to Europe on December 31, 2020. It transports gas from the Caspian
Sea region to European countries through Georgia and Türkiye.
This large-scale project is aimed at the 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 of $45 billion. Capital
expenditures on the SGC project are expected to be fully reimbursed
within 8-10 years.
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