(MENAFN- AzerNews)
Fatima Hasanova read more bp regional president Azerbaijan-Georgia-Turkiye Gary Jones is
confident that Shah Deniz and the Southern Gas Corridor (SGC) are
clearly today's, but also tomorrow's top story, Azernews reports
with reference to his remarks at the 9th Ministerial Meeting of the
Southern Gas Corridor Advisory Council on February 3 in Baku.
“The world needs energy that is secure, affordable, and lower
carbon. This makes the role of the projects like SGC and Shah Deniz
grow even more. As they help address all three of those needs. Shah
Deniz and SGC are clearly today's, but also tomorrow's top story.
There are significant expansion opportunities for both projects.
Now, that there is so much demand for gas supply, this expansion
has become even more critical. SGC is designed as scalable so that
its initial throughput capacity can be expanded if and when needed.
We are currently working with SOCAR and other partners to see how
we can use this to increase gas supplies to Europe,” said Gary
Jones.
Furthermore, the regional director stated that BP is
investigating potential new gas sources.
“We have just spudded an exploration well on Shah Deniz to look
for more gas beneath the currently producing horizons. We have also
started an appraisal well from Chirag – ACG's very first platform -
to explore the deep gas reservoirs under the producing oil field.
In parallel, we are evaluating how we can electrify our operations
instead of powering them using gas. The electrification of the
Sangachal terminal could be a good start. Replacing the Sangachal
gas turbines with grid access would allow us to export the
displaced gas through SGC. Both Shah Deniz and SGC can further
contribute to the energy transition and security of supply,” noted
Jones.
The regional director of BP stated that Azerbaijan has
significant potential and strategic plans for increasing gas
supplies via SGC.
“We have been privileged and proud to develop and operate the
country's major energy projects over the last 30 years, hand in
hand with SOCAR and other co-venturers. Now, as the long-term and
reliable partner, we are ready to continue supporting the country
as it realizes its plans for SGC,” he stressed.
On December 31, 2020, the Southern Gas Corridor began
transporting Azerbaijani gas to Europe. It carries gas from the
Caspian Sea region to European countries via Georgia and
Turkiye.
This large-scale project aims to diversify energy supply routes
and sources, thereby contributing to Europe's energy security. The
project cost $33 (AZN56,1) billion instead of the expected $45
(AZN76,5) billion. The SGC project's capital expenditures are
expected to be fully repaid within 8-10 years.
As of 2023, Azerbaijan's natural gas exports to the European
Union market will total 11.6 billion cubic meters. This year,
Azerbaijan will export nearly 24.5 billion cubic meters of natural
gas.
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