Azerbaijan increases gas exports by more than 5 times over past 11 years
Baku, Azerbaijan, Sept. 19
By Kamala Mammadli – Trend:
If Azerbaijan was importing gas 25 years ago, today it has become a major gas exporter, as stated by the President of Azerbaijan’s state-owned oil company SOCAR Rovnag Abdullayev, Trend reports referring to official media.
According to him, Azerbaijan has increased gas exports by more than 5 times over the past 11 years.
“The country was able to ensure full energy independence through the Shahdeniz field," Abdullayev added.
Abdullayev noted that 3 of the 4 segments of the Southern Gas Corridor project extended last year proved to be successful, and Azerbaijan is already prepared to export gas to Europe under the Shahdeniz-2 project.
"The construction of the TAP [Trans Adriatic Pipeline] gas pipeline, which is the last segment of the project, is nearing completion," Abdullayev added.
According to him, SOCAR is the main gas operator in Azerbaijan and Georgia.
Abdullayev also noted that the level of gas supply in Azerbaijan currently stands at almost 96 percent.
"Over 25 years, gas production in Azerbaijan has increased fivefold, and by 30.3 percent over the past 11 years. A 20-percent increase in gas production is forecasted by the end of the year," Abdullayev said.
This year marks the 25th anniversary of the "Contract of the Century", which was signed in 1994. It was the first agreement of Azerbaijan with large foreign oil companies, which were invited to invest in the development of the country's huge oil and gas resources in the Caspian Sea.
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