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ADB: Azerbaijan will receive more than USD 20 bln. revenues from Shah Deniz

20 December 2022 11:35 (UTC +04:00)

Azerbaijan is expected to receive total of $20.3 billion during 2015–2033, APA-Economics reports citing the report of the Asian Development Bank (ADP).

"The government of Azerbaijan has agreed to start increasing its gas exports to the EU in 2022.

Plans to increase the capacity of TANAP and TAP are also being made to help address the looming shortfall in gas supply to the EU.

Importance of Shah Deniz Stage II Gas Field Expansion Project. Shah Deniz is one of the largest gas fields in the world and its expansion to produce up to 26 bcma will greatly benefit Azerbaijan’s economy. The country is expected to receive total of $20.3 billion during 2015–2033. These revenues give Azerbaijan more fiscal headroom for economic diversification. The project also provides a new source of energy supply for Europe—diversifying its energy market and strengthening its energy security," the report reads.