Bilateral effort toward the development of the so-called Southern Corridor of energy transit networks is a sign of close ties to Turkey, a U.S. official said.Turkey aims to position itself as a regional transit hub for oil and natural gas, already hosting a section of the Baku-Tbilisi-Ceyhan oil pipeline, one of the world\'s longest.Azerbaijan, meanwhile, is at the center of a regional energy race spurred by 2009 disputes between Russia and Ukraine, which hosts 80 percent of the Russian natural gas sent to European consumers.Natural gas from Azerbaijan is viewed by Europe as a supply source for its Nabucco natural gas pipeline, a project included in the Southern Corridor of transit networks meant to break Russia\'s grip on the European energy sector.U.S. Ambassador to Turkey Francis Ricciardone said in written statements to the U.S. Senate Foreign Relations Committee during a confirmation hearing that both countries \"are working together to bring Caspian gas to European markets for the first time through a new route called the Southern Corridor.\"Turkey played host in June to a signing ceremony for project support agreements between the five transit countries and the Nabucco pipeline consortium.Ricciardone said the Southern Corridor \"would provide commercial benefit for the countries of the Caucasus and Central Asia and also create a long-term partnership based on mutual interests with Europe.\"Ricciardone took his post as Turkish envoy through a December recess appointment.
GMT 12:08 2017 Tuesday ,19 December
Japan trade surplus drops sharply on higher oil importsGMT 15:13 2017 Thursday ,14 December
Energy costs push US consumer inflation higher as Fed meetsGMT 09:43 2017 Sunday ,26 November
Gas exporters oppose unilateral sanctionsGMT 07:32 2017 Saturday ,25 November
Moroccan Gas Wells a Real Gold Mine for British SDX EnergyGMT 15:45 2017 Thursday ,16 November
Oil prices extend losses in Asia after demand warningGMT 13:30 2017 Sunday ,05 November
Saudi Arabia’s non-oil private sector little changed in October – PMIGMT 21:50 2017 Friday ,03 November
Oil near 2-year highGMT 20:22 2017 Friday ,03 November
Oil up on market rebalancing, but analysts warn OPEC must keep supply cutsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©