Joint Declaration signed at the end of 2nd meeting of Southern Gas Corridor Advisory Council

Baku. 29 February. REPORT.AZ/ Joint Declaration has been adopted in regard with the results of the 2nd meeting of the Southern Gas Corridor (SGC) Advisory Council, held in Baku today.

Report informs, Azerbaijani President Ilham Aliyev has attended the signing ceremony.

Joint Declaration has been signed by the participants of meeting of the ministers within the Southern Gas Corridor Advisory Council Baku meeting. Intention for development and deepening of long-term strategic relations among energy producers, transit countries and consumers in order to provide the European markets with Azerbaijan's energy carriers reliably, safely and sustainably has been emphasized in the declaration.

Achievements gained in the direction of the SGC project implementation since 1st meeting of the Southern Gas Corridor Advisory Council, held on February 12 last year have been highly appreciated.

It was declared that gained results will serve to achieve strategic targets by establishing condition for timely and successfully implementation of the SGC project. In addition, execution of all legal procedures and regulatory measures on the project realization by relevant countries has been appraised. Assessment of existing and perspective opportunities for expansion of the project to the markets outside the borders of the European Union, including to the Balkans has been stated. For this purpose, special interest has been emphasized in Greece-Bulgaria interconnector gas pipeline and Ionic-Adriatic Pipeline projects. Besides, further cooperation and strengthening of efficient mechanisms with national and European financial institutions for financing the projects in the framework of the SGC is supported. It was stated that the Energy Union Base Strategy should be used productively for development of energy partnership to resolve realization issues of the Southern Gas Corridor under support of the European Commission.

Intention to continue the format of consultations at the level of bilateral and multilateral working groups for resolution of issues, which may arrise in connection with involvement of new supplier or transit countries to increase the SGC opporunities has been stated. Increase of efforts for maximum use of the project opporunities by joining of new suppliers to the Southern Gas Corridor and increasing gas volumes have been unanimously declared.