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Azerbaijan says gas reserves will increase as new deposits developed

27 April 2009 15:07 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Azerbaijanâ€™s Gas reserves may increase to 1.4 trillion cubic meters from 1.3 trillion cubic meters through the development of new deposits, said SOCAR Vice-President Khoshbaht Yusifzade.

According to him, development of Umid, Mashal, Nakhchivan, Babek nd other fields are slated for commencement and Absheron is already being developed.

This allows Azerbaijan to take part in all regional gas transportation projects, he added.

According to him, Shah Deniz, which is estimated to hold 1.2 trillion cubic meters of gas and 245 million cubic meters of condensate, produces 23 million cubic meters of gas a day and it has to date produced 12 billion cubic meters.

Of these, 670 million cubic meters were transported to Georgia and 7.5 billion cubic meters to Turkey, he added.

He added that Azerbaijanâ€™s gas output increased to 23 billion cubic meters in 2008 from 5.5 billion cubic meters in 1998.

In his words, gas output is expected to reach 30 billion cubic meters in 2015.