Baku, Azerbaijan, Sept.5
By Leman Zeynalova – Trend:
The detailed feasibility study for participation in Bulgaria’s gas distribution market continues, head of SOCAR Balkan Murad Heydarov told Trend.
“SOCAR Balkan is holding consultations with Ernst &Young, which carries out the study. It is too early to talk about the results. We expect to get the final report in late September,” he said.
As for the process of creation of the new company for the Ionian-Adriatic Pipeline (IAP) project, which envisages transportation of Azerbaijani gas to South-East Europe, Heydarov said that this process is out of the company’s control.
“As you know, SOCAR Balkan doesn’t plan to become the founder of IAP company. It has rendered consulting services for the founding companies from Croatia, Montenegro and Bosnia and Herzegovina. We rendered our assistance in promoting the project. But at the current stage, positive dynamics in establishing the company should be ensured by the founders. This process is out of our control. We hope that these issues will be resolved by those companies soon,” he explained.
Back in 2015, the Bulgarian government submitted a package of projects on energy cooperation to Azerbaijan. In particular, the Azerbaijani side was offered to participate in the construction of filling stations, investing in the construction of oil and gas storages, oil refineries.
Bulgaria expects to receive Azerbaijani gas through IGB, a gas pipeline that will be connected to the Trans Adriatic Pipeline (TAP).
IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to TAP via which gas from the Shah Deniz field will be delivered to the European markets.
The initial capacity of IGB will be 3 billion cubic meters of gas.
IAP is a proposed natural gas pipeline in Southeastern Europe that will stretch from Albania through Montenegro, and Bosnia and Herzegovina, to Split in Croatia. It will be connected with the Trans Adriatic Pipeline (TAP). The capacity of the pipeline will amount to five billion cubic meters of gas per year.
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