EU energy security tops discussions at World Congress in Istanbul

Relations of Turkey and Azerbaijan, which are determined by historical, cultural, ethnic and religious connections, are gaining even more momentum due to mutually beneficial and successful cooperation of the two countries in the energy sector.

The 23rd World Energy Congress, grandiose event of colossal importance that brought together more than 10,000 top world leaders in the field of energy, became an additional evidence of the fact that successful cooperation between the countries may become a guarantee of energy security in a whole Europe.

Azerbaijan’s President Ilham Aliyev, speaking at the congress said that energy projects, jointly imple- mented by Azerbaijan and Turkey are of great significance for the world, mentioning that the role of the two countries in the issue of energy security can not be overestimated. The president emphasized that today the Southern Gas Corridor is among the largest energy projects all over the world.

The progress in the implementation of the SGC project, whilst vast majority of other large-scale projects is practically stalled due to sharp drop in energy prices is considered to be a clear evidence of the pivotal importance of the project for energy security, which in turn is one of the most crucial global issues.

President Aliyev said that seven countries have already joined the implementation of the SGC project and more countries can join this im- portant project in the future.

The investment capacity of the SGC is $45 billion, and it consists of four projects, including TANAP, South Caucasus Pipeline, Trans Adriatic Pipeline, and Shah Deniz development.

Turkey’s President Recep Tayyip Erdogan, in his turn, said TANAP will create a new alternative for energy supply to Europe, adding that Turkey, as a country transiting energy resources, is helping to strengthen Europe’s energy security.

The SGC is one of the priority energy projects for the EU, as it will contribute to enhancing the EU’s energy security and diversification of its gas supply routes.

The pipeline will transport 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 project. Other sources, however, can also join the 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 Trans-Anatolian Natural Gas Pipeline (TANAP) and TAP.

Energy cooperation between Azerbaijan and Turkey is developing steadily. Azerbaijan, with its tremendous hydrocarbon resources, gets the opportunity to access the global markets via Turkey. While Turkey, with its advantageous strategic location is considered to be a key player not only for its region that is central to many critical energy issues, but also for the global energy sphere. Moreover, cooperation with Azerbaijan allows Turkey to succeed in its bid to shift from a transit country into an energy hub.

Turkish Prime Minister Binali Yildirim, speaking at the event, said Turkey will continue implementing big projects, mentioning successful realization of such energy projects as the Baku-Tbilisi-Ceyhan (BTC), BakuTbilisi-Erzurum, and Blue Stream.

Moreover, Azerbaijan’s state oil company SOCAR will provide 20 percent of all investments needed for Turkey’s energy sector until 2023. SOCAR President Rovnag Abdullayev said investments in Turkey’s energy sector must reach $100-120 billion until 2023, while SOCAR with its investments worth $18 billion, will provide 20 percent of the total investments.