SOCAR: 50-60bln cu.m of gas to be produced in Azerbaijan by 2020

Oil&Gas Materials 4 June 2011 12:51 (UTC +04:00)

Azerbaijan, Baku, June 4 /Trend, E.Ismayilov/

By 2020, the gas production in Azerbaijan may reach 50-60 billion cubic meters per year, the deputy vice-president of SOCAR Vitaly Beylarbeyov said Friday.

He said the domestic consumption in the country by this period is projected to reach 15 billion cubic meters of gas per year. The larger volume of gas produced will be exported.

Beylarbeyov, who is also a member of the management company AGRI LNG Co., said that by the end of the summer, a contractor will be determined to prepare a feasibility study for the project Azerbaijan-Georgia-Romania Interconnector (AGRI).

The preparation of the feasibility study should take about six months, said Beylarbeyov.

The AGRI project envisages transporting Azerbaijani gas via pipelines to the Black Sea coast of Georgia, where the gas will be liquefied at a special terminal. The gas will then be delivered to a terminal at the Romanian port of Constanta via tankers. Later, the liquefied gas will be brought into the state of natural gas and will be directed towards covering the needs of Romania and other European countries.

It is expected that Turkmenistan, by participating in the project as a supplier, could supply liquefied natural gas across the Caspian Sea to Azerbaijan for further transit to Europe.

Cost of the AGRI project can vary from 1.2 billion to 4.5 billion euros.