Thursday, June 02, 2011
Knight Ridder/Tribune Business News
by A. Badalova, Trend News Agency, Baku, Azerbaijan
The Turkey-Greece-Italy gas pipeline must act as the starting point for the South Gas Corridor for gas supplies from the Caspian region to Europe, Greek Environment Minister Tina Birbili said at a meeting with BP senior representatives, Athens News reported.
Birbili later said after there are additional volumes of gas, other pipelines will be connected.
This position was voiced by the Greek environment minister during a meeting with BP Vice President Alasdair Cook.
Gas produced within the second stage of Shah Deniz's development is regarded as the main source, not only for ITGI project.
The peak production is forecasted at over 9 billion cubic meters and 50,000 barrels of condensate. According to the forecasts, gas production can be brought up to 24 billion cubic meters a year within the second stage of field development.
Shah Deniz reserves are estimated at approximately 1.2 trillion cubic meters of gas.
First gas is expected to be received within the second stage of field development in 2017.
ITGI Transport Corridor includes the renovated Turkish pipeline infrastructure, as well as ITG projects and IGI. Edison (Italy) and Depa (Greece) established IGI Poseidon SA for the design and construction of IGI pipeline, known as Poseidon.
Copyright (c) 2011, Trend News Agency, Baku, Azerbaijan
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