US President Donald Trump stated that the US will continue to support implementation of the “Southern Gas Corridor” (SGC) concept in his message to the participants of the “Caspian Oil and Gas-2017” international conference, which is being held in Baku, RIA Novosti news agency reports.
The SGC project will be able to supply about 10 billion cubic meters of natural gas from Azerbaijan to Turkey and Europe. At the moment, the largest natural gas deposit in Azerbaijan called the Shah-Deniz field. The cost to develop the SGC project is approximately $40 billion.
“I really appreciate our partnership with Azerbaijan and I expect it to develop further. The US remains committed to the implementation of the “Southern Gas Corridor” project. I really appreciate the significant efforts of Azerbaijan in maintaining energy security. I am ready for cooperation with you,” said Trump.
SGC intends to supply gas to Europe via Georgia and Turkey. This is taking place against the backdrop of substantial progress in the implementation of the “Nord Stream-2” project, a gas pipeline from Russia to Germany via the Baltic Sea.
5 large European companies are committed to provide long-term financing of 50% of the costs the project, Gazprom website published on April 24. Combined capacity of both “Nord Stream-1”, and “Nord Stream-2” pipelines will be about 55 billion cubic meters per year.
[This statement by the US president may mark the beginning of a new round of natural gas wars in Eurasia. Yuri Byaly prepared the research on the natural gas wars in the articles published in the “Essence of Time” newspaper (Russian: “Суть времени”). Translation of this series of articles, Escalation of the Global Gas War, can be found on our website – Editor]
Source: Rossa Primavera News Agency