Azerbaijan reaches level of implementing large-scale projects with own resources

Economy Materials 3 June 2015 11:19 (UTC +04:00)
Azerbaijan has become a global energy player
Azerbaijan reaches level of implementing large-scale projects with own resources

Baku, Azerbaijan, June 3

By Maksim Tsurkov - Trend:

Azerbaijan has become a global energy player, Minister of Energy of Azerbaijan Natig Aliyev said June 3 within the framework of the Caspian Oil & Gas 2015 international conference held in Baku.

He said that today, Europe is very concerned about the question of its energy security.

"In particular, this was affected by tense relations between Ukraine and Russia, high dependence on [gas] supplies from Russia and the decline in production in the North Sea," said Aliyev. "Europe imports about 90 percent of oil, 60 percent of gas and 42 percent of coal."

For this reason, Azerbaijan has attracted the attention of the West, he said.

"Azerbaijan is also a new source of energy for Europe, and it offers Europe new routes," the minister said.

He said that not only Azerbaijani gas can be supplied via these routes, but also gas from Central Asia and the Middle East.

"Thus, Azerbaijan can act not only as a source of resources, but also as a transit country," said Aliyev.

He added that Azerbaijan is becoming one of the world's key players in the energy sector.

"This is facilitated by several factors," he said. "Azerbaijan has large reserves of resources. In the coming years we will try to maintain the level of oil production and double the gas production, which will make it possible to significantly increase the export potential. In addition, all necessary infrastructure has been created in Azerbaijan, and a new program of gas processing will soon be implemented. Also, Azerbaijan has reached a level when the country can implement large-scale projects at the expense of its own resources."

The minister said that Azerbaijan creates opportunities not only for itself, but also the entire region.

"Gas from Turkmenistan, Iran, Iraq (with which we have signed a Memorandum of Cooperation), as well as from Israel and Cyprus can be connected to the Southern Gas Corridor," said Aliyev. "The extensive work done by Azerbaijan stands behind all of this."

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian Sea region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.


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