New volumes of gas from Azerbaijani fields may become available very soon, said Vitaly Baylarbayov, Deputy Vice President of Azerbaijan’s state oil company SOCAR, Trend reports.
He meant the Absheron, Umid and Babek fields, as well as the extraction of deep gas from the Azeri-Chirag-Gunashli block.
These volumes could become accessible in the near future if long-term purchase and sale agreements are signed with buyers, Baylarbayov said in an interview with S&P Global Commodity Insights. He dismissed concerns that Azerbaijan would encounter difficulties in meeting its gas supply targets as unfounded.
"We have reserves and plans for their implementation in accordance with the goals set within the memorandum between Azerbaijan and the EU," said Baylarbayov. He added that negotiations are ongoing with both short-term and long-term buyers and suppliers.
Furthermore, as stated by the Deputy Vice-President of SOCAR, Azerbaijan will closely monitor Türkiye’s plans for developing a gas hub.
"For us, Türkiye is a partner in the gas business, which is extremely important. Of course, we would like to carefully study this project, and if it serves our goals, we will participate in it," he explained.
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