Azernews.Az

BAKU – Gas markets are important for Azerbaijan, and Azerbaijani gas is important for these markets, President Ilham Aliyev said after talks with his Latvian counterpart Valdis Zatlers in Riga on Monday, the Latvian leader’s website reported.

"Our production profile of gas can be increased at least twice. Therefore, of course, we need markets for that," President Aliyev told a joint press conference.

Aliyev said markets should be competitive, open, regulated by legislation and long-term.

"Therefore, I think the interests of European consumers and Azerbaijan coincide. And now it is time to work together in order to meet the interests of consumers, producers and of course transit states," President Aliyev said.

He said Azerbaijan has managed so far to implement all the necessary infrastructure projects to transport oil and gas to the international markets.

"Currently, we have three oil and four gas pipelines which transport Azerbaijani oil and gas in different directions. Today we supply all our neighbors with natural gas. We have contracts with Turkey, Georgia, Russia and Iran. And we want to expand our production and, of course, export capabilities," he said.

Aliyev said Azerbaijan needs to work in both directions. "First, to increase gas supplies to the markets which we already have. I have mentioned those countries. And, second, to find new markets. And here we see a very serious approach from European countries and the EU, and the reflection of the serious approach was a joint declaration which was signed between [European Commission] President Barroso and myself several days ago in Baku."

Aliyev noted that Azerbaijan has huge gas reserves amounting to trillions of cubic meters.

"We already have modern and very efficient diversified infrastructure - gas pipelines. And we have a big market in Europe which needs more gas. For us it is not a matter to avoid anyone or to bypass anyone. We have never done anything in our energy strategy against anyone.