BAKU, Azerbaijan, July 13. The news about the launch of the Absheron gas and condensate field is very good for Azerbaijan, Ambassador (retired), Senior Adjunct Professor, American University Robert F. Cekuta told Trend.
He noted that it is also very good news for European consumers and European energy security.
“Additional natural gas is greatly needed now in Europe and globally due to the disruptions caused by Russia’s war against Ukraine. Every additional molecule of natural gas that can be produced and brought on to world markets today helps make sure individuals and businesses have the energy they need for the coming winter. Looking past the coming winter energy needs, and as additional gas becomes available from Qatar and other suppliers next year and the year after, indications are that natural gas is going to continue to be needed for fuel and also as a feedstock for petrochemical production. Thus, for Azerbaijan, the United States, Qatar, and other natural gas producers, I suspect there is going to be continued demand for their gas for some time,” noted the former ambassador.
Cekuta went on to add that as for gas’ contribution to Azerbaijan’s energy diversification, it could be significant.
“The income Azerbaijan receives from producing and exporting natural gas can be used for developing other energy sources, just as energy producers for years have used income from oil or gas sales to invest in expanding current production or in identifying and developing new energy finds,” he explained.
Robert Cekuta pointed out that the income Azerbaijan earns from natural gas exports can be used to develop other energy resources, for example solar and wind, both of which are tremendous underutilized sources of power for the country.
“The receipts from natural gas exports can also be used to upgrade existing energy systems, for example the electrical grid, and to make the country’s housing stock and other buildings and industries more energy efficient. After all, in addition to the reduced carbon emissions resulting from a more efficient use of energy, there can also be significant monetary savings as well,” he concluded.
TotalEnergies and its partner SOCAR (State Oil Company of the Republic of Azerbaijan) have announced the start of production of the first phase of development of the Absheron gas and condensate field in the Caspian Sea, around 100 km south-east of Baku.
This first phase connects a subsea production well to a new gas processing platform, itself linked to SOCAR’s existing facilities in Oil Rocks. It has production capacity of 4 million cubic meters of gas per day and 12,000 barrels a day of condensate. The gas will be sold on the domestic market in Azerbaijan.
TotalEnergies and SOCAR both hold a 50 percent interest in the project, which is operated by the joint company JOCAP (Joint Operating Company of Absheron Petroleum).
The field’s reserves are estimated at 300 billion cubic meters.
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