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Azerbaijani President: â€œTANAP will have a great impact on the realization of the Southern Gas Corridorâ€

03 June 2014 09:18 (UTC +04:00)

Baku. Ramiz Mikayiloghlu – APA. “Today, our capabilities play an important role in determining oil and gas policy in the region,” said Azerbaijani President Ilham Aliyev at the opening of the 21st International Caspian Oil and Gas Exhibition and Conference in Baku Expo Center, APA reports.

The Head of State said that Azerbaijan always tries to coordinate the interests of producers, transit countries and consumers: “We have achieved it. On the other hand, we have not used the oil and gas resources for other purposes, but deepened our cooperation. The geography of our cooperation is gradually expanding. We will begin a long-term cooperation with new partners in the near future”.

The President said that Azerbaijan is known as an oil country in the world and today the country is mostly known as a gas producer in Europe and the world: “National security is related to energy security, these two factors can’t be separated. The contract signed for the development of the Shah Deniz field two years after the Contract of the Century is of great importance. This field is one of the world's largest natural gas fields and makes 50 percent of our gas potential. We have other major gas fields like Umis, Absheron and others. The field holds 2.5 trillion cubic meters of gas. This will play a major role in a long-term energy security of Azerbaijan and Europe”.

Aliyev recalled that Azerbaijan had been putting its gas resources on the world market for 7 years and noted that oil and gas are being transported via 7 pipelines: “The regional markets are not sufficient for our resources, we need greater market access. The realization of the Southern Gas Corridor depends on Shah Deniz gas field today. All the issues on the development of this field have been resolved”.

The Head of State noted that Azerbaijan is interested in implementing the projects on the transport of its gas to Europe: “We couldn’t allow the Southern Gas Corridor to remain as an idea. We made great efforts for the realization of Trans-Anatolian gas pipeline (TANAP). The contract was signed between Azerbaijan and Turkey in 2012, practical works have already begun. I am very pleased that BP also has the shares of TANAP. TANAP will have a great impact on the realization of the Southern Gas Corridor.”