ECONOMY
AZERBAIJAN’S GAS RESERVES ESTIMATED AT SOME 3.4 TRILLION CBM
Natural gas reserves lying in the Azerbaijan sector of the Caspian sea is estimated at 2.5-3.4 trillion cubic meters, Mr. Natig Aliyev, Minister of Energy and Industry told AZERTAC. According to him, major sources of natural gas are Shah Deniz gas-condensate field, Azeri-Chirag-Gunashli oil field (associated gas), deep-water gas fields as well as prospective structures such as “Garabag”, “Umid”, “Nakhchivan”, “Absheron” and “Alov”.
“Should the estimated reserves are confirmed, annual production of natural gas in Azerbaijan will make at least 50 billion cubic meters, a quantity, which is not going to change in 20 years to come,” the Minister said, adding “it means fitting the needs of natural gas markets in the Black Sea region and Western Europe”.
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