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Baku hosts World Gas Infrastructure-2011 conference - PHOTOSESSION

Baku hosts World Gas Infrastructure-2011 conference - <font color=red>PHOTOSESSION</font>

21 September 2011 08:15 (UTC +04:00)

The head of SOCAR Rovnag Abdullayev spoke about the history of gas production in the country and the stateâ€™s role in ensuring energy security in the region.

He noted that the reserves of ShahDeniz make $ 1.2 trillion. cubic meters of gas and 240 million tons of condensate for daily production is 23 million cubic meters of gas and 5 thousand tons of condensate. Gas production in the second phase is scheduled for 2017. Abdullayev noted that during 2004-2010, gas production in the country increased by 5.2 times - from 5 billion cubic meters to 26 billion cubic meters.

Gas reserves in Azerbaijan exceeded 2.5 trillion. cubic meters. According to his words, reserves of "Babak" are equal to 400 billion cubic meters of gas and 80 million tons of condensate, "Umid" - 200 billion cubic meters of gas and 40 million tons of condensate, "Absheron" - 350 billion cubic meters of gas and 45 million tons of condensate.

In addition, exploration works will be started in "Nakhchivan" field by the German RWE company. Besides, the talks are being conducted on development of deep layers of the block of "Azeri-Chirag-Guneshli"oil fields, which may contain 300 billion cubic meters of gas. Perspective are also expected from "Zafar" and "Mashal"deposit.

According to Abdullayev, in 2017-2018 years, Azerbaijan intends to produce 30 billion cubic meters, and 50 billion cubic meters of gas while in 2025. In 2017-2018 years, Azerbaijan will be able to supply 10 billion cubic meters of gas to Europe. It is possible to export 2 billion cubic meters of gas to Europe via Turkey each year. He added that by 2030, 85% of gas demand in Europe will be ensured by imports and, therefore, Azerbaijan is considering several projects to export gas to Europe.