Azerbaijan gradually takes an advantage in the world gas market against a background of rising demand for this raw material. Since the beginning of the 2000s, the prospects of natural gas production in Europe are declining and this creates great opportunities for Azerbaijani gas to expand presence in the European market.

Exploratory drilling of the deep-lying horizons of the Shah Deniz field will begin in 2020, Gary Jones, Regional President for Azerbaijan, Georgia and Turkey (AGT) at BP, said at the Caspian Oil and Gas conference in Baku, Trend reports.

Since gaining independence, Azerbaijan, a country rich in hydrocarbon reserves, has been attracting many world famous oil and gas companies.

The giant Shah Deniz field, which has the capacity to export a large amount of natural gas to the world, makes companies operating here extend their contracts due to high profits and secure future.

UK EXPRO international oilfield service company is looking at expanding its core services within three key areas in Azerbaijan, the company told Trend.

Azerbaijan plans to increase gas production to 47.6 billion cubic meters in 2025, Elshad Nassirov, vice president for marketing and investments of Azerbaijan’s state oil company SOCAR, said in an interview with S&P Global Platts, Trend reports.

The two most important strategic segments of the gas market of Georgia - the population and the production of electricity, are fully provided and will be provided by Azerbaijani gas, Georgian Deputy Minister of Economy and Sustainable Development, Natia Tournava stated at a briefing on March 12, Trend reports with reference to Sputnik Georgia.

Azerbaijan, Romania and Bulgaria can set up a joint working group on gas supply, Secretary of State with Romanian Ministry of Energy Iulian-Robert Tudorache said in an exclusive interview with Trend.

Capital expenditures amounted to 1.44 billion dollars, which is 1.44 billion dollars or 2 times less than in 2017.

Azerbaijan's Shah Deniz celebrates 100 billion cubic metres of total gas production, Trend reports citing BP.