Review of oil and gas news of Caspian region in March 10-13, 2015

AzerbaijanThe Southern Gas Corridor project (Caspian Corridor) provides energy security of gas exporting countries and diversification of sources and supply routes to Europe, says managing director of the European Bank for Reconstruction and Development on Energy and Natural Resources Riccardo Puliti.
According to him, this project also creates a great opportunity for Turkey and other countries, such as Georgia, transit countries, to become more important in terms of energy hub. "I would say that this is very important, of course, for the producing gas countries, such as Kazakhstan, Turkmenistan, Azerbaijan, which potentially are major suppliers to the European Union, in the Western Balkan region," - he said.
He believes that the diversification of sources and supply routes is currently particularly important for energy security in Europe and beyond.
The managing director of the Bank emphasizes that through the Southern Gas Corridor the gas supplies to Europe from northern Iraq and Iran can be organized in the future.

Groundbreaking ceremony of TANAP will be held in Turkey on March 17, the Turkish newspaper Hurriyet reports, referring to the Minister of Energy and Natural Resources Taner Yildiz.
"Heads of Turkey and Azerbaijan will take part in the ceremony," - the newspaper notes.
According to Yildiz, in general, the construction of the pipeline will require 1.3 million tons of pipes for $1.5 billion; 200 thousand tons of pipes will be imported to Turkey from abroad, the remaining 1.1 million tons will be produced in country.