Azerbaijan believes it can boost natural gas production within the coming five years to a point where it could be exporting 20 billion cubic metres by 2012, U.S. Deputy Assistant Secretary for European and Eurasian Affairs, Matthew Bryza, said after a visit to the region, Trend reports quoting Reuters.
"That's a big volume and that's well beyond where their production is today. But our own research indicates there is plenty of gas in the ground of Azerbaijan," he said. Bryza, who was part of a team of senior U.S. officials who visited countries in the Caspian region over recent days, said that Azerbaijan expected to begin exporting gas to Greece before the end of the year.
"Over the long run, by 2015-16, if this momentum sustains itself, it's conceivable, in fact even estimated, Azerbaijan could be producing as much as 40 billion cubic meters of gas a year and could be exporting up to 30 billion," Bryza said. According to Italian ENI, gas reserves in Azerbaijan equal 1,37 trln cu.m.