One of the main economy and political news of the region is exploration of a new major natural gas deposit in Absheron in the Azerbaijani sector of the Caspian Sea. Moreover, the European Union adopted the mandate on negotiations between the EU, Azerbaijan and Turkmenistan on the construction of the Transcaspian Pipeline. It means the South Corridor, a project of gas pipelines’ net from the Caspian Sea region to Europe, will be implemented in the nearest future. The project of gas transferring from Turkmenistan through Azerbaijan, Transcaspian pipeline, will be convenient way of gas exporting to Europe through South Corridor. However, undefined status of the Caspian Sea and the position of Moscow and Tehran, which stand against construction of the pipeline, prevent building of the Transcaspian Pipeline on the bottom of the sea. Could a new mandate by the EU help to solve the problem? Nobody knows.
Even if construction of the pipeline is postponed, an important role in development of the South Corridor can be played by confirmation of huge gas reserves in Azerbaijan, which will make Baku an important exporter of natural resources to Europe. A new deposit can play an important role in diversification of natural gas supply.
President Ilham Aliyev stated about opening of Absheron gas deposit in the Azerbaijani sector of the Caspian Sea on September, 9th. According to the company Total, which is one of participants of the contract on exploration and development of Absheron deposit, gas reserves are appraised in several billion cubic foots of gas. Absheron is situated in 500 meters deep in the Casoian Sea in 100 km from Baku. Actually confirmation of major gas reserves in the deposit is not a sensation. The fact that Azerbaijan is rich with gas is well-known. However, the report by Total can speed up implementation of Nabucco project and other pipelines from the Caspian Sea region to Europe.
Europe wants diversification of gas import to provide energy security and avoid dependency from only one supplier. Moreover, in the context of closing of nuclear power stations and uncertainty with gas supplying from the Middle East, which will appear after changing of administrations in the countries of the region, Europe will need gas both from Russia and the Caspian Sea region.
Today Europe fights for South Corridor, where central place is taken by Nabucco. Maximum ability of the pipeline will be 31 billion cubic meters, and its length will be 3 300 km. Basic providers of gas are Azerbaijan and Turkmenistan. However, uncertain position of Ashkhabad, investors’ fears and an undefined status of the Caspian Sea make the initiators think about risks, as Nabucco can fail to pay off. But the situation can change dramatically as Absheron is discovered.
Anyway Azerbaijan becomes one of main candidates for the role of the main gas provider to Europe. This process is basic in the sphere of energy policy of the republic.
Elmira Tariverdiyeva, Baku. Exclusively to VK.
