Azerbaijan’s gas reserves in focus of world

Azerbaijan's gas reserves, estimated at trillions of cubic meters, attract significant attention and interest to the country as a main source of ensuring energy security, Azerbaijani MP Vahid Ahmedov told Trend on Tuesday.

In turn, he said, pursuing a diversification policy in recent years has allowed Azerbaijan to ensure multi-vector routes of oil and gas exports.

Ahmedov said an agreement on the Trans-Anadolu gas pipeline project (TANAP), which will allow Azerbaijan to ensure its gas supply to European markets through Turkey, is of great importance.

According to Ahmedov, taking into account the implementation of the TANAP project and the availability of the Baku-Tbilisi-Erzurum gas pipeline, there is no problem and will not be in the future regarding gas production and export.

Azerbaijan and Turkey signed a memorandum of understanding to establish the consortium that will build a gas pipeline to supply gas from the Shah Deniz field to Europe through Turkey.

The construction of the TANAP is required for the export of 50 billion cubic metres of gas that Azerbaijan intends to produce by 2025.

All those involved in the project intend to resolve issues on this gas pipeline this year and plans to commence construction immediately will see completion by late 2017. The second phase of development of the Azerbaijani Shah Deniz gas condensate field will be launched during that period.

The consortium on the development of Azerbaijani Shah Deniz gas condensate field is considering possible routes for gas exports to Europe. In particular, the routes of the Southern Gas Corridor are being studied.

The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.


/Trend/