Energy Director: Azerbaijan commits to supplying 10 bcm of additional gas to EU
Ulviyya Shahin
Read more"Assessment of the deep gas reserves of ACG could add to the certainty of further energy policy, not only for Azerbaijan but for the region."
This statement was made by Muram Margvelashvili, Associate Professor of Illia University and Energy Director of "World Experience for Georgia, while commenting on bp's Vice President for wells in Azerbaijan, Georgia, and Türkiye Jim O'Leary's statement to journalists.
Note that the vice president told journalists that it might take up to 12 months to assess the gas volumes in the deep layers in the Azeri-Chirag-Guneshli field block (ACG) in the Azerbaijani sector of the Caspian Sea.
M. Margvelashvili noted that if the reserves are big and comparable to Shah-Deniz or its share, this might provide the gas to fill up the volumes of the South Caucasus Pipeline after its upgrade to 32-33 bcm throughput capacity. This would help Azerbaijan comply with its promise to supply 10 bcm of additional gas to the EU by 2027. The first production well may already give a good indication.
"The results of exploration may also have an effect on the willingness of Azerbaijan to engage in the transit of gas from Turkmenistan and participate in the construction of the trans-Caspian gas pipeline, which can be a game changer in medium-term gas supply but can be converted to hydrogen in the future," the Energy Director concluded.
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