European Commissioner: EU needs more gas supply sources and routes

Azerbaijan, Baku, Dec. 7 / Trend A.Badalova/ The European Union needs more sources and routes to deliver gas to the European markets in order to ensure security of supply, EU Commissioner for Energy Günther Oettinger said at 20th World Petroleum Congress in Doha. "This is the essence of the European Union's diversification policy. It is a policy of risk mitigation and economic interest which offers mutually advantageous opportunities to us and to our suppliers," the Commissioner said. He mentioned that as a major energy consumer, importer and technology provider, the European Union has an interest in the energy policy developments of all its partners across the globe. "It is in the EU's strategic interest to build and enhance comprehensive and long-term partnerships with historical suppliers, new suppliers, as well as other major consumer countries and emerging economies," Oettinger said. At the same time, by participating in a fully integrated EU gas market, gas suppliers will gain access to a growing market of half a billion consumers which represents the largest single regional market for gas and electricity in the world, he said. The Commissioner noted that natural gas will continue to play key role in the EU energy mix in the years to come, on sustainability and competitiveness ground providing that it remains a secure and reliable source. The key element of the European energy policy is the diversification of energy supply. With this regard, at the moment the priority project for the EU in this direction is the Southern gas Corridor, which aims to diversify energy supply routes and sources and, therefore, increasing energy security of the European countries. The Southern gas Corridor includes three projects: Nabucco, Trans Adriatic Pipeline (TAP) and ITGI. Gas which will be produced during the second stage of Azerbaijani Shah Deniz gas condensate field development is considered the main resource for these projects. Under the Shah-Deniz-2 project, Azerbaijan plans to ship gas to Europe at a volume of 10 billion cubic meters. Do you have any feedback? Contact our journalist at agency@trend.az