December 17th, 2013
03:12 PM GMT
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(CNN) - We are aware of the saying “keep all your options open.” Europe is doing just that with a landmark $28 billion natural gas pipeline agreement signed in Baku Tuesday which will open up what is called the Southern Gas Corridor in 2018.

The nearly 20 heads of state, ministers and commissioners did not go out of their way to make the Russian connection with Ukraine as a reason to forge ahead, but one cannot overlook the motivation.

The deal was signed in Baku on the very day Vladimir Putin met with Ukrainian President Viktor Yanukovich to potentially define how Russia may step up assistance to Kiev.

After being frozen out in the winters of 2006 and 2009 with interruptions to gas supplies from Russia through Ukraine, the European Union has stepped up efforts to complete the agreement which was first drawn up in 1996.

Azerbaijan came onto the energy scene when it launched the Baku–Tbilisi–Ceyhan or BTC oil pipeline from Baku to the southern Turkish port of Ceyan with political backing from the United States.

Read more: Will Iran gas deal unleash 'Germany of the Middle East?'

This pipeline network will cover more than 3500 kilometers and stretch from Baku to Italy. BP and Norway’s Statoil are the lead investors taking 25.5% each in the partnership with a handful of others including the Azeri state energy company SOCAR.

Unlike a number of pipeline agreements that have been drawn up, this one will launch with at least nine customers from the heart of Europe guaranteeing revenue when the taps are officially opened up in 2018.

Azerbaijan sits on roughly 1% of the world’s proven gas reserves, so it is not a major player yet. But this production from the Shah Deniz 2 field will double its output by the end of the decade according to Azeri officials.

Read more: Flame towers light up Baku's historic skyline

Russia may not be thrilled about this effort by the European Union to diversify gas supplies, but with 17% of proven gas reserves it will not be unseated as the major supplier to Eastern and Western Europe.



soundoff (6 Responses)
  1. maconsultancy

    Reblogged this on Mr Business Info Blog – UK Business Financial Information.

    December 19, 2013 at 1:35 pm |
  2. ertwerter23452345

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    December 19, 2013 at 2:51 pm |
  3. ertwerter23452345

    POLÍTICOS CON PROBLEMAS MENTALES ASESINOS SERIALES.

    VEAMOS ESTA LISTA DE BASURA ENFERMOS MENTALES ESQUIZOFRENICOS PSICÓTICOS::

    Líderes del Senado de la sección del 112º Congreso (2009-2011) de los Estados Unidos son:
    Presidente del Senado: Joe Biden (D-Delaware)
    Presidente Pro Tempore: Patrick Leahy (D-Vermont)
    Líder de la Mayoría: Harry Reid (D-Nevada)
    Líder de la Minoría: Mitch McConnell (R-Kentucky)

    Senadores.

    La mayoría de los senadores de la I Clase.

    Tammy Baldwin – Wisconsin – Demócrata3
    John Barrasso – Wyoming – Republicano3
    Sherrod Brown – Ohio – Demócrata3
    Maria Cantwell – Washington – Demócrata3
    Ben Cardin – Maryland – Demócrata3
    Tom Carper – Delaware – Demócrata3
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    Joe Donnelly – Indiana – Demócrata3
    Dianne Feinstein – California – Demócrata3
    Deb Fischer – Nebraska – Republicana3
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    Orrin Hatch – Utah – Republicano3 (desde 1977)
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    Heidi Heitkamp – Dakota del Norte – Demócrata3
    Dean Heller – Nevada – Republicano3
    Mazie Hirono – Hawái – Demócrata3
    Tim Kaine – Virginia – Demócrata3
    Angus King – Maine – independiente3
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    December 19, 2013 at 4:13 pm |
  4. maconsultancy

    Reblogged this on Mr Business Info Blog – UK Business Financial Information.

    December 20, 2013 at 5:42 pm |
  5. Moqe3.Com

    not bad

    December 23, 2013 at 2:08 pm |
  6. georgi tchinkov

    Do you realy belive in the data of the EUROBAROMETER? How it comes the lines of those who belive there will not be a EU, and those who belive there will be EU never cross? It is illogical not to sustain the trend!

    So cheating with data is a serious crime for EU, what about reputation? Or the prinsiple is one crime covers another ...
    http://ec.europa.eu/public_opinion/archives/eb/eb80/eb80_first_en.pdf

    December 27, 2013 at 10:30 pm |

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