BAKU, Azerbaijan, February 21. The meeting of the Southern Gas Corridor Advisory Council offers us an opportunity to discuss the capacity expansion of the pipeline, which represents for us a crucial route of gas supply diversification, EU Commissioner for Energy Kadri Simson said in an exclusive interview with Trend.
“We will also discuss the role of the Southern Gas Corridor in supporting coal phase out and diversification efforts of the EU neighboring countries. This discussion is key in addressing regional and global energy security challenges,” she said.
Simson noted that crucially, along with the SGC Advisory Council, a second Green Energy Advisory Council will also be convened, following on from the successful experience of 2023.
“It will address the promotion of renewable energy generation, energy efficiency, and renewable hydrogen, which are significant pillars of the EU-Azerbaijan energy partnership. To move to practical arrangements, the representatives of the EU wind sector will travel with me to Baku, to discuss in the margins of the Green Energy Advisory Council with the Azerbaijani side the scope for investments into wind energy in Azerbaijan. Overall, the Green Energy Advisory Council will also provide a great opportunity to discuss the upcoming COP29,” she added.
The transportation of Azerbaijani gas to Europe through the Southern Gas Corridor (SGC) commenced on December 31, 2020. Gas from the Caspian Sea region is conveyed to European countries through Georgia and Türkiye.
This extensive project aims to diversify energy supply routes and sources, bolstering Europe's energy security. The project's cost was $33 billion, with a forecasted cost of $45 billion. Anticipated capital expenditures for the SGC project are expected to be fully recouped within 8-10 years.
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