ECONOMY


Azerbaijan's gas export potential to increase by 2025: SOCAR

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Baku, May 5, AZERTAC

Azerbaijan's gas export potential will reach 40 billion cubic meters by 2025, head of Azerbaijan's State Energy Company SOCAR Rovnag Abdullayev stated.

Abdullayev said that at the first stage, the volume of gas transported through the Trans Anatolian Pipeline (TANAP) will be 16 billion cubic meters.

"In the future, the possibility of increasing the gas supply through TANAP to 30 billion cubic meters will be considered," Abdullayev said.

The natural gas to be produced within the Shah Deniz Stage 2 development will be sufficient for all the countries of the Southern Gas Corridor.

Some 16 billion cubic meters of gas will be produced in the Shah Deniz Stage 2 development and exported to the energy markets. This figure will be increased by one billion cubic meters per year.

Rovnag Abdullayev said that the volume of investment made in Turkish economy will reach $20 billion by 2023.

According to him, TANAP is able to meet Europe's gas needs, SOCAR head underlined. At his words, Azerbaijan's gas reserves are more than three trillion cubic meters which helps the development of the country's export potential. The TANAP project, jointly developed by Azerbaijan's SOCAR, Turkish State Pipeline Company Botas, and energy company TPAO, will deliver Shah Deniz gas to the Turkish-Greek border from eastern Turkey. TANAP will connect to the Trans Adriatic Pipeline (TAP) on the Turkish-Greek border and the latter will export gas to consumers in Germany, France, Great Britain, Switzerland and Austria.

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