Azerbaijan to open first phase of Southern Gas Corridor to Turkey in July

The 3,500km pipeline will track through Georgia, Turkey, Greece, Albania and across the Adriatic to Italy. (Tanap)
Updated 19 February 2018
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Azerbaijan to open first phase of Southern Gas Corridor to Turkey in July

BAKU: The first phase of the Southern Gas Corridor (SGC) pipeline from Azerbaijan to Europe will open in July and could be expanded after it becomes fully operational in 2020, Azeri state energy company SOCAR said.
SGC’s three pipelines — the Trans-Adriatic Pipeline (TAP), the South Caucasus Pipeline through Georgia and the Trans-Anatolian Pipeline (TANAP) through Turkey — will provide the first direct route for carrying gas from Azerbaijan’s giant Shah Deniz field to markets in Europe.
“We will start first commercial supplies of gas to Turkey (through TANAP) in early July this year,” Vitaly Baylarbayov, SOCAR deputy vice president, said in an interview with Reuters.
TAP, the 870-kilometer (541-mille) end piece of the $40 billion corridor, has been more challenging, due to protests against it by environmentalists in Italy.
The European Investment Bank approved a 1.5 billion euro ($1.9 billion) loan for TAP earlier this month and Baylarbayov said that the operating consortium would continue to seek funds for the project.
“We can say now that the (SGC) pipeline will be put into operation on time, in 2020,” Baylarbayov said.
The Shah Deniz I field, which has been pumping gas since 2006, has a production capacity of 8 billion cubic meters (bcm), and output from Shah Deniz II is expected to reach 16 bcm of natural gas per year, with 10 bcm earmarked for Europe and 6 bcm for Turkey.
Baylarbayov said SGC could be expanded if promising new gas fields in Azerbaijan can be developed.
He mentioned the Absheron gas field, where SOCAR is drilling in partnership with French oil company Total, and the Karabakh field which it is due to explore with Norway’s Statoil.
Azerbaijan’s Umid and Babek fields could also be developed as could the next stage of Shah Deniz, he said.
“Many foreign companies are also expressing interest in development of Umid and Babek fields together with SOCAR and we are in talks with them,” he said without elaborating on details of talks.
 


South Korea: Japan dispute to hit global technology companies

Updated 17 July 2019
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South Korea: Japan dispute to hit global technology companies

  • Japan’s steps are inconsistent with World Trade Organization principles, South Korean government source says

SEOUL: Export curbs Japan imposed in its dispute with South Korea will adversely affect global technology companies and hurt the operations of tech giant Samsung in the Texas state capital of Austin, a South Korean government source said on Wednesday.
Japan’s steps are inconsistent with World Trade Organization principles, but South Korea wants to resolve the dispute through dialogue, the source told reporters in Seoul, speaking on the condition of anonymity in order to discuss negotiations.
If Japan goes so far as to drop South Korea from its “white list” of countries with minimum trade restrictions, it would cause a “tremendous amount of problems,” the source added.