10:00, 5 March 2011

Azerbaijan ratifies Declaration on "Southern Gas Corridor"

The Azeri parliament has ratified the Declaration on the "Southern Gas Corridor", a joint document with the European Union (EU).

The document was signed by Azerbaijani President Ilham Aliev and the Chairman of the European Commission Jose Manuel Barroso in Baku in January 2011.

According to the declaration, Azerbaijan is obliged to supply enough gas to the EU to create the so-called "Southern Corridor" - the route to link the energy-rich Caspian Region with Europe, while bypassing Russia. The infrastructure of the project will be built jointly by the EU and Azerbaijan, the "Trend" reports.

Ilham Shaban, an Azeri expert and the head of the Petroleum Research Centre named "Caspian Barrel", told the "Caucasian Knot" that in order to be implemented, the project should seek particular resources base and solve a series of business issues.