Bulgaria-Greece gas link construction to start in early 2018 - energy min - SEE NEWS

SOFIA (Bulgaria), February 22

Bulgaria's energy ministry said on Wednesday that the construction of the gas interconnector Greece-Bulgaria (IGB) will start in the beginning of 2018.

The 182 km long IGB pipeline will connect the northeastern Greek city of Komotini with Stara Zagora, in southern Bulgaria. The link is estimated to cost 220 million euro ($241.8 million).

"The energy minister of Azerbaijan, Natig Aliyev, confirmed before Bulgaria's caretaker energy minister Nikolay Pavlov his country's commitment to deliver 1 billion cu m of gas annually to Bulgaria," the energy ministry said in a statement. One of the conditions for the Azeri gas supplies is the construction of the IGB link.

Azerbaijan: US should be at SGC consultative council meeting - TREND NEWS

6 December 2016 16:25 (UTC+04:00)
Baku, Azerbaijan
Maksim Tsurkov

Azerbaijan’s Energy Minister Natig Aliyev noted the importance of the United States’ representation at a high level at the 3rd consultative council of ministers on the Southern Gas Corridor project in order to give political support to the project, the Azerbaijani Energy Ministry said in a message Dec. 6.

Aliyev made the remarks during his meeting with William Silkworth, office director at Bureau of Energy Resources of the US State Department, according to the message.

During the meeting, the US side expressed interest in Azerbaijan’s position on the eve of the OPEC meeting in Vienna.

Baku eyes $30-50bn profit from Southern Corridor - NATURAL GAS EUROPE

June 21st, 2016 11:10am

Azerbaijan is hoping in the best case for profits in excess of $50bn from the Southern Gas Corridor (SGC). State oil company Socar told NGE June 20 that even the gloomiest outlook showed that Azerbaijan’s share in the profit of SGC would be at least $30bn over the 25 years' duration of the sales and purchase agreements.

SGC is a project consisting of the development of Shah Deniz gas field stage 2 (SD2), including the South Caucasus Pipeline Expansion (SCPX), as well as the Trans-Anatolian Natural Gas Pipeline (Tanap) and Trans Adriatic Pipeline (TAP).

Azerbaijan has 16.7% share in Shah Deniz project, 58% in Tanap and 20% in TAP. The total costs of the implementation of SGC is expected to reach $39.1bn, of which about $9bn would be invested by Azerbaijan. “In return, the country is expected to earn $30bn-$50bn from SGC, depending on oil prices and additional incomes from transiting the other suppliers’ gas through SGC,” Socar said.

Greece solved all issues for receiving Azerbaijani gas - TREND NEWS AGENCY

3 FEBRUARY 2016Maksim Tsurkov, Baku, Azerbaijan

Greece has solved all issues necessary for receiving Azerbaijani gas via the Southern Gas Corridor, said Nikos Kotzias, Greek foreign minister, at a meeting with Azerbaijani Energy Minister Natig Aliyev.

Aliyev, for his part, said the smooth implementation of the Southern Gas Corridor project is very important for the development of energy cooperation between Greece and Azerbaijan, the Energy Ministry of Azerbaijan said in a message Feb. 3.

“Some 50 percent of the work on the Shah Deniz 2 project has been completed,” added Aliyev. “Eight of 26 planned production wells have been drilled.”