ECONOMY


President: Azerbaijan's gas reserves will be enough to transport natural gas to Europe for decades to come

Baku, November 25, AZERTAC

"Azerbaijan's gas reserves will be enough to transport natural gas to Europe for decades to come," said the Azerbaijani President Ilham Aliyev as he addressed a plenary session of the Eastern Partnership Summit as part of his working visit to Brussels.

"Among the issues which we closely cooperate on with European institutions is energy policy. Azerbaijan is implementing the large-scale energy project, Southern Gas Corridor. The project costs more than 40 billion US dollars, and will allow us to produce additional volumes of natural gas and transport it from Azerbaijan to European markets.”

“The 3,500 km gas pipeline will be new a route and will bring gas from new sources to European markets. This is a policy of energy security and policy of energy diversification because gas from Azerbaijani gas fields will be the only new source of natural gas to Europe and will definitely change to a large degree the energy map of the European continent,” President Ilham Aliyev said.

“Proven gas reserves of Azerbaijan are equal to 2.6 trillion cubic meters of gas and that will be enough to transport natural gas to Europe for decades to come. Azerbaijan took the lead in implementing the southern gas corridor project and we are very grateful to European Commission for continued support of this project. And this support, and also the financing from the European financial institutions is vital for successful implementation of this project,” the Azerbaijani President added.

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