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Significance
Azerbaijan will start exporting gas to Turkey via the Trans-Anatolian Natural Gas Pipeline (TANAP) at the end of June and onward to European markets from 2020. TANAP is a key link in the Southern Gas Corridor, which requires expanded production at the large Shah Deniz offshore field.
Impacts
The Southern Gas Corridor will bind Turkey and Azerbaijan even closer together.
Azerbaijan will continue importing Russian gas to top up domestic consumption.
The government will encourage new exploration as it cannot afford a significant fall in hydrocarbon revenues.
Keywords:
Azerbaijan,
RUCIS,
Caucasus,
Europe,
Turkey,
Turkmenistan,
economy,
industry,
international relations,
energy,
foreign investment,
foreign trade,
gas,
infrastructure,
construction,
fiscal,
oil
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2018
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