Energy and Natural Resources Minister Berat Albayrak attended the third ministerial meeting of the Southern Gas Corridor Advisory Council in Azerbaijan, where he was welcomed by Azeri President Ilham Aliyev.
In addition to cooperation in the energy sector, the meeting addressed the Southern Gas Corridor, consisting of the South Caucasus Pipeline, the Trans-Anatolian Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP), which will transport Azerbaijani natural gas to Europe.
President Aliyev stressed the importance of Turkey's high-level representation in the Southern Gas Corridor Advisory Council in the admission at the Haydar Aliyev Center in Baku.
Delivering a speech at the Advisory Council Meeting, Aliyev said the TANAP agreement, signed by President Recep Tayyip Erdoğan for Turkey, in 2011, was the turning point for the Southern Gas Corridor.
Talking about the work progress in the Southern Gas Corridor, Aliyev said, 65 percent of the works in TANAP, which is the main part of the project has been completed. In addition, 80 percent of the South Caucasus Pipeline and about 35 percent of TAP, and 90 percent work at the Shah Deniz field have been completed.
Noting the solid business partnership Azerbaijan has developed with Georgia and Turkey over the years, Aliyev said, "We signed TANAP agreement with Erdoğan in 2011. The signing ceremony in Istanbul was the turning point, followed by other agreements. This project would not have been possible without the TANAP agreement."
Pointing out that the cost of TANAP fell thanks to savings Aliyev said, financial institutions such as the World Bank and the Asian Development Bank have been supporting the project.
Natural gas to be extracted from Southern Gas Corridor consisting of South Caucasus Pipeline, TANAP and TAP, and the Shah Deniz 2 field were expected to be delivered to Europe.