He said that TAP is a new route for delivering Caspian gas to Europe, adding that the project aligned with the EU key energy objectives.
Award of the major procurement contracts, according to Bradshaw is expected by end 2015. The managing director said that TAP is also committed to transport gas with zero harm to environment.
TAP project is a part of the Southern Gas Corridor that will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security and also will allow Azerbaijan to obtain a new market in Europe. Azerbaijani gas is designed to open the Southern Gas Corridor.
As part of ensuring Azerbaijani gas supply to Europe, the final investment decision was made on Dec.17, 2013 on the Stage 2 of the Shah Deniz offshore gas and condensate field`s development. The gas produced at this field will first go to the European market (10 billion cubic meters), while six billion cubic meters of gas will be annually delivered to Turkey.
The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field’s reserve is estimated at 1.2 trillion cubic meters of gas and 240 million metric tons of condensate.
As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.
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