ECONOMY


US Energy Information Administration: Azerbaijan to become a more significant supplier of natural gas to Southern Europe

Baku, February 15, AZERTAC

“Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets. Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy,” according to the US Energy Information Administration’s (EIA) International Energy Statistics.

The EIA report mentions that some volumes of natural gas produced in Azerbaijan are being exported to other countries.

“Azerbaijan is planning to expand its natural gas exports to Europe. European Union leaders consider connecting Azerbaijan’s Shah Deniz natural gas field to Southern Europe to be a step toward the strategic goal of diversifying Europe’s natural gas supply. Southern and Eastern Europe, in particular, have limited supply options for natural gas because of geographic constraints and infrastructure limitations,” the report says.

The EIA mentions that although the proposed Azerbaijani volumes (10 billion cubic meters of gas per year) will bring a smaller amount of natural gas to Southern Europe, they could help mitigate potential natural gas supply disruptions by providing another option to satisfy regional natural gas demand.

The EIA report also features information about the Shah Deniz gas-condensate field, the field’s second stage of development Shah Deniz 2, Southern Gas Corridor and South Caucasus Pipeline Expansion project which runs from Azerbaijan to the Georgia-Turkey border.

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