BAKU, Azerbaijan, September 3. Potentially we can increase the supply to Europe even more than 20 billion cubic meters, President Ilham Aliyev said in an interview with the Italian 'Il Sole 24 Ore' newspaper in Italy's Cernobbio on Sept. 2, Trend reports.
"With respect to the reserves we have, I spoke at the conference, the minimum proven reserves are 2,6 trillion cubic meters of gas. So, potentially we can increase the supply to Europe even more than 20 billion cubic meters. But, also, we should understand that Europe is not our only destination. We supply Turkiye with the same figure like Italy – about 10 billion cubic meters and the demand in the Turkish market also is growing. We supply Georgia, though the market is not big, but still. Our total export this year will be about 22-23 billion cubic meters, but in order to increase, first: a lot of investments must be made in the fields and expansion, not only of TAP. We need to expand TANAP from 16 to 32 billion cubic meters. Yes, it will not be needed to build a new pipeline. We only need to upgrade the compressor stations, but still it is investment. And also one important thing that we never in the past or even now put in front of us a target to compete with Russian gas on the European market. No, we had our space. We have signed contracts with three European countries, with Italy, Greece and Bulgaria. There are demands from other European countries and we are evaluating those demands. There are projects, as you mentioned in your question, to have other extensions like the Ionic-Adriatic pipeline, which can go to the Balkans, the Greece-Bulgaria interconnector, which soon will be inaugurated and other interconnectors. But all this is a kind of puzzle on the table, we need to have active negotiations with potential consumers, to agree with shareholders about the investments in production, in distribution and also to negotiate the price. So, a lot of issues are in front of us," the head of state said.