Azerbaijan’s gas reserves can be increased up to five trillion cubic meters: Azerbaijani Foreign Minister
Azerbaijan, Baku, Jan.12 / Trend /
At present, Azerbaijan's gas reserves are estimated at two trillion cubic meters. This figure can be increased up to five trillion, Azerbaijani Foreign Minister Elmar Mammadyarov said in an interview with Qatar's satellite TV Channel Al Jazeera.
As to energy cooperation, the minister said that Azerbaijan actively cooperates with neighboring countries and plans to expand gas operations to Europe.
"We do not have neighbors who would dictate tariffs to us," the minister said.
He said that energy cooperation between Azerbaijan and Russia covers decades.
"We also have agreements on gas sale with Iran. We hold talks on sale of four billion cubic meters of gas annually with Turkey. The negotiations on increase of gas sale, including European Union, are held," Mammadyarov said.
The minister said that Azerbaijan's priority is to increase its economic level and replenish the public budget.
At present, Azerbaijan exports gas to Georgia and Turkey from the Shah Deniz field via the South Caucasus pipeline. SOCAR (State Oil Company of Azerbaijan) will transport 1.1 billion cubic meters of gas to Russia under the contract signed with "Gasprom". SOCAR and National Iranian Gas Company (NIGC) signed the contract on purchase-sale of gas in winter 2009-2010. Today, SOCAR and NIGC hold talks in Baku to conclude the long-term contract for gas supplies.