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Gas export potential of Azerbaijan to hit 40-50 bcm by 2025

16 November 2012 15:03 (UTC +04:00)

Baku – APA-Economics. SOCAR President Rovnag Abdullayev delivered a speech at the Atlantic Council summit on New Opportunities in a Dynamic Region in Istanbul.

He informed summit participants about the works carried out in connection with TANAP project. Noting the importance of TANAP as the main element of Southern Gas Corridor project, SOCAR President said that in initial stage of the project, it was planned to transport gas from Shah Deniz field within framework of Phase-2: ‘We are going to establish new energy corridor between Azerbaijan, Turkey and Europe. In future, it is considered to conduct exploitation works in Absheron and Umid gas deposits, as well as in the deep layers of ACG block’.

‘Gas export potential of Azerbaijan will hit at least 40-50 bcm by 2025. The main part of this gas will be exported to Europe. And TANAP will be the only gas-transportation system that will provide secure transportation of Azeri gas to Europe’, added Abdullayev.

‘In future, the pipeline will transport gas not only from Azerbaijani fields, but also from other countries of the Caspian basin, via Azerbaijan and Turkey to Europe. The gas pipeline will become a fundamental and crucial element in the framework of the Southern Gas Corridor, which will be implemented in stages’, noted the President.