"The project is moving forward in close cooperation with our partners. This year, the important milestone was the signing of the agreement between European Union’s Innovation and Networks Executive Agency (INEA) and Eustream, allowing us to receive EU grant for the feasibility study needed for the planned pipeline," said the source.
The source noted that the completion date of the feasibility study is June 2018.
"Representatives of Eustream have already signed the agreement with supplier of the feasibility study. The planned commissioning date of the new pipeline is the end of 2021 (further details will be decided based on the feasibility study results)," added the source.
Eastring will transport natural gas from different areas and alternative sources. At the first stage, it will provide the Balkans and/or even Turkey with gas from the European gas market. At the final stage, when its bi-directional mode should be in place, Eastring will transit prospective Romanian Black Sea natural gas, Caspian and Middle East natural gas to Europe.
The main purpose of this project is to carry natural gas from: (i) Western Europe to the Balkan countries, enabling those countries to diversify their natural gas sources; (ii) alternative gas sources, including but not limited to Russia, AGRI, TANAP, Caspian, Iran, Iraq, Egypt, Israel and Cyprus to Central, South and Western Europe.
The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.
At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.
As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.
More about: #Caspian-gas
