12903
SOCAR Will Conduct Feasibility of Albania Gas Project
Energy

SOCAR Will Conduct Feasibility of Albania Gas Project

Azerbaijan state energy company SOCAR plans to announce a tender to find a company to conduct a feasibility study on Albania's gas infrastructure plan as part of European efforts to reduce dependence on gas from Russia, Reuters reported.
Albania and Azerbaijan signed a preliminary agreement in December to cooperate in development of an Albanian gas grid as the Balkan country leads construction of the European section of the project to bring Azeri gas to Europe from the Shah Deniz II field in the Caspian Sea.
The so-called southern corridor will bring gas to Turkey and Greece, as well to Italy via Albania and the Adriatic Sea. "SOCAR will announce this tender in the next three months," Murad Heydarov, adviser to SOCAR's president, told Reuters.
"We should draft the feasibility study before the end of 2015, and if this project is considered effective, we will start Albania's gasification project in March next year." Heydarov estimated the project's cost at "several hundred million dollars".
Azeri gas could reach southern Europe by the end of this decade through the proposed Trans Adriatic Pipeline and the Trans Anatolian Pipeline. These pipelines would carry billions of cubic meters of gas a year from Shah Deniz II, one of the world's largest gas fields, which is being developed by a BP-led consortium.

 

Short URL : http://goo.gl/8YeXnT

You can also read ...

The agreement went through after years of on-off negotiations with the French group.
A technology licensing agreement with French company Air...
No licenses have been issued for state and semi-governmental companies to build power plants in the last four years.
The Energy Ministry has privatized over 50% of power plants in...
OPEC to Struggle With Oversupply for Years
When OPEC and Russia first embarked on clearing a global oil...
Iraq Sets Up Oil Shipping, Trading Joint Venture
OPEC member Iraq has formed a joint venture with a shipping...
NISOC Targeting 20% Rise in Recovery Rate
National Iranian South Oil Company aims to increase the...
Brent, WTI Make Gains
Oil prices edged up on Wednesday, lifted by declining US crude...
China Energy Demand to Peak in 2040
China's energy demand will peak by 2040, a decade later than...

Trending

Googleplus