Germany Advocates Southern Gas Corridor Expansion With Alpine Gas Pipeline Proposal
Date
11/23/2023 1:10:21 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 23. Germany has put
forth a proposal to enhance the Southern gas Corridor by extending
a new gas pipeline through the Alps, Trend reports.
German Chancellor Olaf Scholz made this statement during a joint
press conference with Italian Prime Minister Giorgia Meloni in
Berlin.
"It is of utmost importance to amplify the Southern Gas
Corridor. Through the implementation of a new pipeline traversing
the Alps, we aim to bolster the reliability of energy supplies to
both our nations," he added.
The Southern Gas Corridor commenced the transportation of
Azerbaijani gas to Europe on December 31, 2020, facilitating the
movement of gas from the Caspian Sea region to European countries
through Georgia and Turkey. The total cost of the project amounted
to $33 billion, notably less than the initially forecasted $45
billion. Capital expenditures for the Southern Gas Corridor project
are expected to be fully reimbursed within 8–10 years.
In July 2022, Azerbaijan and the EU reached an agreement to
increase the volume of gas supplies via the Southern Gas Corridor
from the existing 10 billion cubic meters to 20 billion cubic
meters by 2027.
Follow the author on X: @Lyaman_Zeyn
MENAFN23112023000187011040ID1107475403
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.