Southern Gas Corridor receives waiver from US sanctions against Iran's energy customers

Baku, Azerbaijan, Aug.7 By Leman Zeynalova – Trend: The Southern Gas Corridor has received a waiver from US sanctions against Iran's energy customers, S&P Global Platts reported. BP had been seeking a sanctions waiver for its development of Azerbaijan's offshore Shah Deniz fields, the source of the Southern Gas Corridor's natural gas. Iran's NICO holds a 10% share in the second phase of Shah Deniz, potentially triggering US sanctions against Iran petroleum sector investment. US energy sector sanctions being re-imposed November 4 will ban companies from the US financial system if they continue to do business with Iran. Trump's order contained a "natural gas project exception" that describes the Southern Gas Corridor without naming it. A ceremony to launch Phase 0 of TANAP took place June 12 in the Turkish city of Eskisehir. TANAP, together with Trans-Adriatic Pipeline (TAP), is a part of the Southern Gas Corridor, which provides for the transportation of gas from the Azerbaijani field Shah Deniz to Europe. Follow Trend on Telegram. Only most interesting and important news