Exclusive: Albgaz part of the new company for IAP project

According to SOCAR, an agreement was reached on 15 February for the establishment of a new company for projection of the Ionian Adriatic Pipeline (IAP), which will be connected to the Southern Gas Corridor (SGC).

SOCAR, Albgaz, as well as gas distributors of Montenegro, Croatia and Albania signed two documents on projection of pipelines to be connected to the SGC. The signing ceremony was held during the 4th Ministerial Meeting of SGC Advisory Council.

Front-End Engineering Design (FEED) of the new pipeline planned to be constructed between Albania’s Fier and Vlora cities for distribution of natural gas from SGC to the territory of Albania will be carried out by SOCAR Balkan. The letter of intent on design of the pipeline was signed by SOCAR Balkan CEO and Albgaz CEO.

Another letter of intent is related to establishment of a new company for design of IAP. SOCAR will create condition for transportation of natural gas in the volume of 5 billion cubic meters to South-eastern and Central Eastern Europe by connecting IAP with Croatia’s gas distribution system.

SOCAR Balkan CEO Murad Heydarov said that a number of EU and Balkan states are interested in increase of share of natural gas in domestic energy supply and cooperation with Azerbaijan: ‘This is because the natural gas is the most harmless fuel for the environment. These countries still need necessary gas infrastructure. These projects will diversify export directions of Azerbaijani gas’.

energjia.al, 16.02.2018