ARKANSAS, February 5 (Future Headlines)- The United States is set to participate in the upcoming 10th meeting of the Advisory Council on the Southern Gas Corridor (SGC) scheduled for March 1st in Baku. The Southern Gas Corridor has been a focal point of U.S. engagement over the past two decades, and the decision to attend this council meeting underscores the ongoing commitment of the United States to this strategic energy initiative.
The U.S. embassy in Baku confirmed its participation, stating that while plans are being finalized, the country has consistently provided strong support and contributed to the development of the Southern Gas Corridor. The meeting is expected to involve the signing of crucial documents, addressing the expansion of the corridor, the inclusion of new participating countries, and the exploration of green energy projects.
The Southern Gas Corridor, a major infrastructure project, has played a pivotal role in diversifying Europe’s energy sources and ensuring energy security. Operational at full capacity since December 2020, the corridor has successfully delivered substantial volumes of natural gas to various European destinations, including Italy, Greece, and Bulgaria.
Italy has been a significant recipient, receiving over nine billion cubic meters of gas annually, while Greece and Bulgaria each receive one billion cubic meters per year. The successful operation of the corridor has not only strengthened regional cooperation but has also contributed to the energy needs of European Union member states.
The forthcoming Advisory Council meeting is expected to focus on the expansion of the Southern Gas Corridor, potentially welcoming new participating countries into this strategic energy network. The inclusion of new members underscores the corridor’s role in fostering collaboration and energy integration among nations.
Furthermore, the meeting will address green energy projects, reflecting a broader commitment to sustainability and environmental consciousness. The negotiation of significant agreements related to these green energy initiatives is anticipated to be a dedicated session during the council meeting.
In terms of the corridor’s recent performance, since December 2020, it has been operating at full capacity, delivering gas to Italy at a rate exceeding nine billion cubic meters annually. Additionally, Greece and Bulgaria each receive one billion cubic meters per year. The Southern Gas Corridor’s consistent delivery of gas to these destinations highlights its reliability and capacity to meet the energy demands of diverse European markets.
In 2022, European Union member states collectively received 11.4 billion cubic meters of gas through the corridor, valued at 15.6 billion euros. This volume increased slightly in 2023, reaching 11.8 billion cubic meters. These statistics underscore the corridor’s significance in contributing to the energy security and stability of European nations.
Reporting by Moe Khaled; Editing by Sarah White