IGB's inauguration to favor expansion of Southern Gas Corridor - Azerbaijani minister

IGB's inauguration to favor expansion of Southern Gas Corridor - Azerbaijani minister

Baku. TurkicWorld:

The inauguration of the Interconnector Greece-Bulgaria (IGB) is a strategically important event to favor the implementation of new projects regarding the expansion of the Southern Gas Corridor and the diversification of energy supply of Bulgaria and Southeast Europe, Azerbaijan’s Energy Minister Parviz Shahbazov said, the ministry’s press service told TurkicWorld.

Shahbazov made the remark at the opening ceremony of the IGB.

According to him, the implementation of the project is important for the further development of TAP pipeline.

“Azerbaijan is a stable and strategic source of diversified gas supply for European countries, including Bulgaria and Greece. Over a year, 13.5 billion cubic meters (bcm) of gas have been supplied to Europe. Of these, 1.4 bcm have been directed to Greece, and 440 million cubic meters to Bulgaria,” the minister noted.

Some 160 million cubic meters of gas were transported to Bulgaria from January through June 2022, and a total of 600 million cubic meters of gas are planned to be exported by the end of the year, he further said.

Since 1 July, Azerbaijan has exported 2.6 million cubic meters of gas to Bulgaria daily, an increase of 1.7 million cubic meters in daily supply, Shahbazov pointed out.

Besides, the minister emphasized the importance of cooperation for sustainable energy security.

“The realization of the Southern Gas Corridor including its newest IGB branch, and supplying Azerbaijani gas to Europe at a time when it is most needed are the results of high-level cooperation, solidarity, mutual trust and support between our countries,” he said.

According to the official, if the historic Istanbul Agreement was not signed it would not have been possible to achieve consistent results without regular close contacts, great coordination, and firm cooperation between the countries in the format of the Southern Gas Corridor Advisory Council.

“The Southern Gas Corridor is the greatest achievement of EU-Azerbaijan energy partnership so far, and we are looking forward to expand, extend and deepen this success story," Shahbazov also noted.

He added that the IGB is a foundation for implementation of new projects regarding the expansion of the Southern Gas Corridor in the coming years.

In September 2013, Bulgargaz EAD signed a 25-year contract on the purchase of 1 bcm of gas per year within the Shah Deniz 2. In May 2019, the ground-breaking ceremony of IGB was held in the Kirkovo, Bulgaria.