Athens, 12 September, 2011. In response to today’s reporting of the Absheron discovery, as well as the European Union decision to adopt a mandate to negotiate a legally binding treaty between the EU, Azerbaijan and Turkmenistan to build a Trans Caspian Pipeline System, Harry Sachinis, CEO of DEPA, the Greek Public Gas Corporation, welcomed these developments as again reinforcing the case for ITGI to be the first phase of opening the “Southern Gas Corridor”.
“The only gas available for a while will be the 10 bcm from Shah Deniz II, which matches perfectly the ITGI’s capacity. Everything is in place to deliver gas to European markets through ITGI, as soon as it’s available from Shah Deniz II. It’s good news for European energy security. When the Absheron gas field comes online in 2021/22, along with gas from Turkmenistan and Iraq, these quantities will be added to the 10 bcm Shah Deniz II gas that will be already flowing through ITGI, potentially providing Europe with up to 40 bcm of Caspian natural gas. This can only be a good thing”