(MENAFN- AzerNews) 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 will be held.
The Ministerial Roundtable of the GECF will continue to operate in two sessions. 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.
MENAFN12112020000195011045ID1101114563
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.