The Southern Gas Corridor (SGC) is the most important project for BP, Tufan Erginbilgic, BP’s downstream chief executive, told reporters Oct. 13 on the sidelines of the 23rd World Energy Congress in Istanbul.
Erginbilgic said the project worth $45 billion is important both for BP and the energy market.
“The Southern Gas Corridor project has already been implemented by 83 percent,” he noted, adding that the Trans Anatolian Natural Gas Pipeline’s (TANAP) construction is being carried out in line with the schedule.
He reminded that BP has a 20-percent share in the Trans Adriatic Pipeline (TAP).
“These projects are creating a large amount of work for our company,” he added.
Erginbilgic also noted that TANAP will help Turkey become an energy hub.
“Thanks to its geopolitical location, Turkey can get more natural gas,” he added. Despite that Ankara wants to use mostly coal and renewable energy sources in the future, the country won’t reject the gas, he added.
The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region to the European countries through Georgia and Turkey.
At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan’s Shah Deniz field is considered as the main source for the Southern Gas Corridor project. Other sources can also join this project at a later stage.
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 TANAP and TAP.