US confirms Iran sanctions waiver for Azerbaijan natural gas pipeline to Turkey, Europe

U.S. President Trump signed an executive order giving the Souther Gas Corridor an exemption from the reinstated Iran sanctions, energy news publication S&P Global reports. The Southern Gas Corridor will transport 16 bcm a year of Caspian Sea natural gas from Azerbaijan’s offshore Shah Deniz fields to Southern Europe via Turkey. Trump’s executive order states the project provides Turkey and European countries energy independence from Russia. Iran’s NICO holds a 10% share in the second phase of Shah Deniz, which could have potentially triggered U.S. sanctions against investment in the Iranian energy sector.

 

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