UK Publicly Endorses Southern Corridor

The United Kingdom made its position clear, underlining the importance of the Southern Corridor and Azerbaijan for Europe's energy security.

‘Discussions about the progress of the Southern Corridor (SC) gas pipeline route will be on the agenda when Business and Energy Minister Michael Fallon visits Azerbaijan this week (9-11 July),’ the Department of Energy & Climate Change wrote on Wednesday.

While having potential problems with indigenous production, the country is increasingly voicing the need to diversify European gas sources.  

“This visit is an important opportunity to reinforce the importance of the Southern Corridor pipeline and the significant role it will play in ensuring Britain’s security of energy supply. Increasing the diversity of the European energy mix is particularly important in the context of current events in Ukraine. The recent series of UK ministerial visits to the region underline the value we place on pushing ahead with this key infrastructure project,” Fallon commented.

Meanwhile, the Office for National Statistics released figures about North Sea oil and gas companies, whose profits plunged from 31.1% in the last three months of 2013 to 27.6% in the first quarter of the current year.