Gas production to top 35-40bln cu.m in Azerbaijan: SOCAR president
Azerbaijan, Baku, Sept. 15 / Trend , E.Ismayilov/
In 2020, gas production in Azerbaijan, is projected to increase to 35-40 billion cubic meters compared to 27 billion cubic meters this year, said Rovnag Abdullayev, the Head of the State Oil Company of Azerbaijan Republic (SOCAR).
"Gas production in Azerbaijan is always growing. While this figure stood at five billion cubic meters in 2004, it is expected to produce 27 billion cubic meters of gas in 2009," said Abdullayev on Sept. 15. This year, SOCAR plans to produce about eight billion cubic meters of gas.
The Caspian region has large hydrocarbons reserves. In Azerbaijan, these reserves are estimated at five trillion tons of standard fuel, said the head of SOCAR.
Abdullayev said the talks are also held under the project to develop deep gas in the block of the Azeri-Chirag-Guneshli fields.
Abdullayev said SOCAR continues investing in the development of gas distribution networks in Georgia. At the primary stage of the project to develop 31 gas facilities, owned by the company, the volume of investment will be about $20 million.
"The presence of large gas reserves in the region still does not mean their rational use, appropriate infrastructure is also needed for its transportation," said Abdullayev.
He said to sell gas, Azerbaijan, from the commercial point of view, is considering and studying all attractive projects, including the Nabucco gas pipeline projects, TGI, TAP and others.
Further the necessary work is underway to transport gas to other areas, in particular, to Russia in accordance with the memorandum, signed between SOCAR and Gazprom. Under the agreement, SOCAR will deliver to Russia at least 500 million cubic meters of gas per year in 2010.
"We are carrying out repair work on the pipeline, and by the end of this year, it is planned to start this project," Abdullayev added.