Baku, Azerbaijan, Feb. 15
Trend:
Azerbaijan will be a reliable and long-term supplier of energy resources to the world markets for decades, said Azerbaijani President Ilham Aliyev.
President Aliyev made the remarks as he was addressing the Fourth Ministerial Meeting of the Southern Gas Corridor Advisory Council in Baku Feb. 15.
President Aliyev stressed that Garabag is another field that they hope to get further involved in international cooperation.
“Furthermore, there are two fields with huge gas potential - "Dan Ulduzu" and "Ashrafi". Thus, the confirmed gas reserves of Azerbaijan is twice more than the gas reserves of the Shah Deniz field - 2.6 trillion cubic meters of gas and I am sure that it will be more. Because our experience shows that initially the anticipated reserves are substantially higher than previous one. For example, when the "Contract of the Century" was signed in 1994, the reserves of Azeri-Chirag-Guneshli were estimated at more than 500 million tons. Modestly speaking, this figure is now twice as high - about 1 billion tons. I think and hope that we will witness the same in gas fields. Therefore, in the coming decades Azerbaijan will become a reliable and long-term supplier of energy resources to the world markets. Today, Azerbaijan's oil makes up about a third, or even 40 percent of oil consumption in some European countries. Azerbaijan is ready to enter the European market with its gas reserves,” he said.