EU energy commissioner to visit Baku next week

EU Energy Commissioner Günther Oettinger will visit Baku next week to attend the signing of agreements on the Trans-Adriatic Pipeline (TAP) to deliver Azeri gas to Europe from the Turkish border.A ceremony will be held in Baku on Dec. 17 where a final investment decision will be made on the $25 billion Shah Deniz phase two natural gas project. Thirty-nine agreements, including on Tanap and TAP pipelines, will be signed during the ceremony, which will be joined by British Foreign Secretary William Hague, Italian Prime Minister Enrico Letta and Greek Prime Minister Antonis Samaras.

Shah Deniz, which is being developed by a BP-led consortium, is estimated to contain 1.2 trillion cubic meters of natural gas. The European Union is looking to gas deposits in the Caspian region to cut dependence on Russian supply.

ANN.Az