Kazakhstan and Azerbaijan alone meet 11% of EU’s oil import demand

Kazakhstan and Azerbaijan alone meet 11% of EU’s oil import demand
# 11 November 2013 11:56 (UTC +04:00)

The consumption of gas, that will be a fast-growing fossil fuel is also set to expand throughout to 2035, said the Energy Counsellor Delegation of the European Union to the Republic of Azerbaijan Edyta Nowak.

According to her, therefore, Azerbaijan must review its gas export: “EU's domestic gas production is declining. New gas producing companies are entering the market. To prevent climate changes in 2020, EU countries need more gas”.

Nowak said that EU countries will increase renewable energy to 55% by 2050.

“Almost every day we see the region’s resource base being constantly updated with current estimates reaching 15% of the world's total reserves (ca. 27 tcm) for the three major producers only – Azerbaijan, Turkmenistan and Kazakhstan. Europe uses all methods to seek extra gas resources. The Caspian region is already supplying EU with significant volumes of oil – Kazakhstan and Azerbaijan alone meet 11% of EU’s oil import demand”, she said.

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