Azerbaijan to double gas output: president
Azerbaijan, Baku, Jan. 29 / Trend , A.Badalova/
Azerbaijan plans to double its gas production in the next 5 years, Azerbaijani President Ilham Aliyev said at the World Economic Forum in Davos on Jan. 29."We are planning at least to double gas production over the next 5 years. Thus, the available markets are not enough. It is very important to have a clear understanding of our potential markets," he said. "Today, Azerbaijan has no problems with diversification," Aliyev. "On the contrary, we have 7 pipelines for oil and gas exports, which can transport our hydrocarbons in different directions. We do not depend on only one route and one market. It may seem a bit strange, but even those countries that produce more oil and gas than Azerbaijan want to buy our gas and oil." Azerbaijan is now focused on finding new markets and expanding its pipelines, he added. Bringing together the efforts of the countries involved in the Nabucco project and strong financial commitments can help advance the project, Aliyev said.
"Nabucco shareholding nations, as well as project-backing organizations, should consider Nabucco not only as a means of profit. There is the issue of energy security. Energy security ensures common security and independence in the long run," he said.
"Nabucco needs more political will, more precise financial commitments, and countries like Azerbaijan who are willing to play the gas supplying and transiting role," Aliyev addes.
Construction of the pipeline worth 7.9 million euro is expected to commence in 2011. Its maximum capacity will be 31 billion cubic meters per year.
Nabucco shareholders are the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE with 16.7 percent each.
The World Economic Forum (WEF), also known as the Davos, is the largest international non-governmental organization with headquarters in Geneva. The main purpose of the WEF is to improve global peace by assisting the international community in addressing economic development and social issues.
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