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Minister: Azerbaijan's gas production to reach 50 bcm in 2024 [PHOTO]

12 November 2020 11:48 (UTC+04:00)
Minister: Azerbaijan's gas production to reach 50 bcm in 2024 [PHOTO]

By Ayya Lmahamad

Azerbaijan’s gas production is projected at 38 billion cubic meters in 2020, and is expected to reach a peak of approximately 50 billion cubic meters in 2024, Energy Minister Parviz Shahbazov said on November 11.

Addressing the Ministerial Roundtable of the Gas Exporting Countries Forum, Shahbazov said that the annual production from Shah Deniz gas field is expected to reach 19 billion cubic meters in 2020, and 27 billion cubic meters in 2024.

Shah Deniz is Azerbaijan’s largest gas filed and is the main source for the Southern Gas Corridor that takes Caspian energy resources to the European markets via Azerbaijan’s territory.

Stressing that energy projects authored by Azerbaijan have changed the energy map of the region and Europe, the minister noted that Azerbaijan’s main goal is to ensure energy security and contribute to global development by achieving strong cooperation between producer, transit and consumer countries in the process.

Furthermore, it was noted that with the completion of Trans Adriatic Pipeline, Azerbaijan will enter the European market for the first time following Georgia and Turkey.

The minister underlined that the supply of 16 billion cubic meters of Azerbaijani natural gas to Turkey and Europe via the Southern Gas Corridor has already become a reality. In addition, he noted that the South Caucasus Pipeline, Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline also have the potential to expand in the future to transport additional volumes, emphasizing that in the first ten months of the year, gas export to Turkey increased by 20 percent thanks to TANAP.

Additionally, the minister touched upon Azerbaijan’s recent historic victory ending the 30-year long conflict, noting that this great victory, which ensures the restoration of Azerbaijan’s territorial integrity and justice, will be a strong guarantee of gas supply, energy and regional security.

It should be noted that on November 12, the 22nd Ministerial Meeting of the GECF was held.

Addressing the second day of Ministerial Meeting of the GECF, the minister briefed participants on the impact of the global COVID-19 pandemic on the world’s energy sector and natural gas industry, climate change and the use of hydrogen energy, and the important role of natural gas as a low-carbon energy source in energy transformation.

He noted that the transnational projects implemented within Azerbaijan’s energy policy serve security, stability, international cooperation and development, noting that the Southern Gas Corridor is a clear example of this.

It was noted that this pipeline, which will open in the near future and deliver Azerbaijani gas to European consumers, allow diversifying the sources of supplies.

"The Southern Europe will be connected to the Caspian region directly for the first time, showcasing the integration, development and strengthening of energy security of continents, regions, and countries around the 3,500-kilometer strip,” he added.

Besides member countries of GECF such as Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, Venezuela, the representatives from the Observer countries Azerbaijan, Iraq, Kazakhstan, Malaysia, Norway, Oman, Peru, and the United Arab Emirates participated at the meeting.

It should be noted that the Gas Exporting Countries Forum was established at first Ministerial Meeting in Tehran on 19-20 May 2001, attended by representatives of Algeria, Brunei, Indonesia, Iran, Malaysia, Oman, Qatar, Russia, Turkmenistan and Norway, and the organisation acquired the international status at the 7th Ministerial Meeting in Moscow, Russian Federation on 23 December 2008.


Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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