Azerbaijan has potential to become big gas exporter

Oil&Gas Materials 21 May 2012 21:18 (UTC +04:00)

Azerbaijan, Baku, May 18 / Trend E. Ismailov /

Azerbaijan is a potential alternative gas supplier to Central and Eastern Europe, a source in SOCAR told Trend today.

The source said that Azerbaijan as a big oil exporter will become a big gas exporter in the future. This will be possible after a consortium developing Azerbaijani offshore gas condensate field "Shah Deniz" (natural gas reserves - 1.2 trillion cubic meters) will make a final decision on the gas supply route to Europe.

"Azerbaijan has already proved itself as a big oil exporter and took its position in the oil sale market," a source said. The country has turned from an importer of natural gas into an exporter of gas since 2007. Azerbaijan will become one of the largest suppliers of gas in the future."

According to the source, it is real to choose two routes, rather than one. In this case, it will be determined which project will have a priority.

"Azerbaijan has new fields, big gas reserves and opportunities," the source said.

The Shah Deniz consortium currently considers several options to export gas to the European markets. For Central European pipeline route the consortium considers two options - SEEP and Nabucco West, which envisages the construction of a pipeline from the Turkish-Bulgarian border to the Austrian Baumgarten. The choice between these two projects will be made in June.

The final decision on a pipeline route to export Azerbaijani gas to the European markets is expected to be made in 2013.