Minister: Number of countries buying Azerbaijani gas could exceed 10

    ECONOMICS  01 June 2023 - 11:22

    Energy Minister Parviz Shahbazov has said the number of countries to which Azerbaijani natural gas is exported may exceed 10.

    Shahbazov made the remarks at the Baku Energy Forum on June 1, according to Report.

    "This year's Forum coincided with the formation of a new global energy landscape based on the diversification of safe, reliable energy sources and routes, in particular the development of green energy. Azerbaijan is expected to export more than 24 billion cubic metres of gas this year. About half of them will be delivered to Europe. Presently, Azerbaijani gas is transported to six countries. With the expansion of the Southern Gas Corridor and the launch of the Solidarity Ring project, the number of countries buying Azerbaijani gas may exceed 10," he said.

    The minister said that additional gas supplies require increased capacity in the Southern Gas Corridor and the Ring of Solidarity: "For this to happen, a well-coordinated effort by the partner countries is needed. We are planning projects not only for publicity purposes but also for strategic purposes. Development and introduction of all energy resources of the Caspian Sea to the world markets have always been carried out in parallel and in a consistent manner. Azerbaijan itself has always been the main locomotive of the energy route projects, and this unchanged line of our energy policy is still relevant today.”

    Shahbazov said that Azerbaijan is currently working on several sources of additional gas volumes.

    "The main source is our rich gas reserves. Our recoverable gas reserves are 933 billion cubic metres, proven reserves are 1.7 trillion cubic metres, and projected reserves are about 4 trillion cubic metres. The Absheron, Karabakh, Umid, Babek and Azeri-Chirag-Gunashli projects are expected to produce additional gas and export it to partners in the short to medium term,” he said.

    Meanwhile, Shahbazov added that Azerbaijan will implement alternative energy projects with a capacity of 1.8 GW by late 2026, APA reports.

    According to him, Azerbaijan can save up wind and solar energy another 1 billion cubic metres on exports as part of these projects.

    The minister added that by 2030, the said figure will reach 5 GW, which means that the potential of "green energy" will grow.

    Current trends suggest domestic consumption will hit 14 billion cubic metres in 2023 and 15 billion cubic metres in 2026. Meanwhile, forecasting models indicate that gas production in Azerbaijan will be around 47.8 billion cubic metres in 2023, 49.2 billion cubic metres in 2024, and 49.7 billion cubic metres in 2025.

     

    Caliber.Az

    Subscribe to our Telegram channel


Read also

Central Bank: Insurance premiums in Azerbaijan grow significantly

20 June 2024 - 11:53

Azerbaijan's natural gas exports to EU surge Doubles market share

18 June 2024 - 16:36

Azerbaijan State Oil Fund joins global investors in major stake in GEMS Education

18 June 2024 - 16:21

Baku, Astana to invest $50.6 million in Trans-Caspian fiber optic cable project

18 June 2024 - 15:00

Azerbaijan's "green" transition as a beacon for oil-producing countries The Strait Times article

17 June 2024 - 13:30

Azerbaijan's economic achievements acknowledged by World Economic Forum

15 June 2024 - 16:40
ADVERTS
Video
Latest news

    Death toll tops 1,000 after hajj marked by extreme heat

    20 June 2024 - 16:53

    Azerbaijan's green energy initiatives take center stage

    Baku gears up for COP29

    20 June 2024 - 16:39

    F-16s to protect Ukraine’s Kharkiv from guided bombs

    20 June 2024 - 16:26

    MFA: Azerbaijani refugees has right for safe return to their homes

    20 June 2024 - 16:13

    Iran approves law on free trade with EAEU

    20 June 2024 - 16:05

    Escalating tensions & prospect of war in the South Caucasus

    Can French arms supply reignite new regional war?

    20 June 2024 - 15:53

    Turkish troops continue to eliminate PKK terrorists in Iraq

    VIDEO

    20 June 2024 - 15:40

    Türkiye seeks explanation from organisers of Swiss conference on Ukraine

    20 June 2024 - 15:26

    US diplomacy, the Zangazur corridor

    Balancing interests in the Caucasus

    20 June 2024 - 15:14

    Guadeloupe seeks international support against French colonialism

    20 June 2024 - 15:11

    Tactical & special exercises held with radiation, chemical, and biological defense units

    VIDEO

    20 June 2024 - 14:58

    EU unhappy with Macron's overspending

    Paris is facing a fine

    20 June 2024 - 14:47

    Azerbaijan continues intensive construction of Horadiz-Agband railway line

    20 June 2024 - 14:43

    Russia – North Korea deal: a new geopolitical axis?

    New level ties

    20 June 2024 - 14:28

    Israeli forces eliminate Hamas special forces commander

    VIDEO

    20 June 2024 - 14:25

    Iran puts Rasht-Caspian railway line into operation

    20 June 2024 - 14:13

    Azerbaijani border troops thwart attempted drug smuggling from Iran

    PHOTO

    20 June 2024 - 14:00

    Pros and cons of CAESAR SAU purchase

    Examining Armenia's new arsenal

    20 June 2024 - 13:55

    Yerevan, Paris discuss developments in South Caucasus

    20 June 2024 - 13:46

    Senior diplomat: Russia plans to open consulate general in Armenia's Kapan

    20 June 2024 - 13:33

    Azerbaijan, Russia enhance legal cooperation with seminar, bilateral meeting

    PHOTO

    20 June 2024 - 13:20

    Institute for Study of War: Russian leader creating alternative to NATO

    20 June 2024 - 13:07

    Russian oil depot catches fire after suspected drone attack

    20 June 2024 - 13:01

    Swiss Re Europe forecast: Average temperature in Azerbaijan to rise by about 5%

    20 June 2024 - 12:57

    France's military moves in Armenia stir regional unease

    Fueling conflict in South Caucasus

    20 June 2024 - 12:55

    Minister: Azerbaijan to use experience of NAM to successfully host COP29

    20 June 2024 - 12:43

    French Thales signs agreements with Ukraine to strengthen front-line support

    20 June 2024 - 12:31

    Secretary General: NATO must be strengthened due to North Korea-Russia developing relations

    20 June 2024 - 12:18

    US expresses concern over Russia-North Korea growing cooperation

    20 June 2024 - 12:06

    Central Bank: Insurance premiums in Azerbaijan grow significantly

    20 June 2024 - 11:53

    Türkiye eyes to model earthquake risks in Azerbaijan

    20 June 2024 - 11:40

    UN Human Rights Council’s session participants condemn religious hatred in Europe

    20 June 2024 - 11:27

    Media: Armenia buys 36 CAESAR artillery units from France amid supply challenges

    20 June 2024 - 11:16

    Armenian PM wants to strengthen ruling party with new regional structures

    20 June 2024 - 11:15

    UNICEF: Nearly 2,000 children die daily from air pollution-related health issues

    20 June 2024 - 11:02

    US Central Command: Senior Daesh figure killed in airstrike in Syria

    20 June 2024 - 10:49

    Azerbaijan lambasts France for renewing fresh cycle of arming Armenia

    France fuels Armenia's militarization

    20 June 2024 - 10:37

    Ukraine, Georgia to restore ferry service

    20 June 2024 - 10:24

    European Commissioner for Climate Action to visit Azerbaijan due to preparation for COP29

    20 June 2024 - 10:12

    Russian deputy FM: Western agenda in South Caucasus contradicts regional interests

    20 June 2024 - 10:00

All news