Baku, May 31 - Neftegaz.RU.
The U.S. has always welcomed Azerbaijan’s initiatives on energy projects which contribute to the diversification of energy supplies of the European countries. The Southern Gas Corridor plays an important role in terms of energy security in the Balkans, Kent Logsdon, U.S. Principal Deputy Assistant Secretary in the Bureau of Energy Resources, said at a meeting with Azerbaijani Energy Minister Parviz Shahbazov, Azernews reported.
Shahbazov said that the Southern Gas Corridor project is about to be completed and the long-term support of the U.S. in this process is of particular importance. He called the foundation of the Interconnector Greece-Bulgaria (IGB) as the beginning of the new stage of the project's development, and spoke about the fields and their resources, which are being developed as additional sources for the corridor in the future.
During the meeting, detailed discussions were held on the work done to meet the domestic gas demand, renewable energy sources and energy efficiency. The sides also discussed the prospects for cooperation in the process of expanding the use of renewable energy sources.
It is noteworthy that Azerbaijan remains one of the most significant trading partners of the U.S. in the CIS. So far, the U.S. has invested $13.6 billion in the Azerbaijani economy, while Azerbaijan invested $8.2 billion in the U.S. economy. The trade turnover between the 2 countries reached $858 million in 2018.
The Southern Gas Corridor, a $40 billion worth project, envisages the transportation of 10 billion cu m of gas to Turkey and Europe through the pipeline, which will be operated within the 2nd stage of the Shah Deniz gas condensate field project in the Azerbaijani sector of the Caspian Sea.
The Southern Gas Corridor consists of 4 projects: Shah Deniz 2, Expansion of South Caucasus Pipeline (Baku-Tbilisi-Erzurum), the Trans Anatolian Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).