Azerbaijan has potential to export 30bln cu.m of gas within 30 years: president of StatoilHyidro Azerbaijan

The Shah Deniz field can be catalyst in the chain of the energy resources transportation not only as part of the South Corridor, but also in the north direction, he added.

Advance in the relations between Azerbaijan and Turkey accelerates the negotiation process with potential customer as part of the second stage of development of the Shah Deniz gas condensate field," Hausken said.

Azerbaijan can produce over 30 billion cubic meters of gas to be exported a year within 10-15 years, the president of StatoilHyidro Azerbaijan believes.

Statoil Hyidro is a commercial operator of the first stage of the development project of the Azerbaijani offshore Shah Deniz gas-condensate field.

The contract on development of off-shore Shah Deniz field was signed on 4 June 1996. Shah Deniz participating interests are: ?? (operator - 25.5 percent), StatoilHydro (25.5 percent), SOCAR (10 percent), LukAgip (10 percent), NICO (10 percent), Total (10 percent), and TPAO (9 percent). Reserves of the field are 1.2 trillion cubic meters of gas.

It is expected to produce 8.6 billion cubic meters of gas as part of the first stage of implementation of the Shah Deniz.

/Trend Capital/