The Azerbaijan State News Agency

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”.

Share news on social media

Follow us on social network

The UK's armed forces face cuts to fill a record £17 billion black hole in the defence budget

Istanbul hosts opening ceremony of 39th COMCEC ministerial meeting

Turkic States Athletics Association to be established

Tanker "President Heydar Aliyev" returns after overhaul

President Ilham Aliyev accepted credentials of incoming ambassador of Malaysia to Azerbaijan

Azerbaijani chess players to compete at FIDE World Rapid & Blitz Championships 2023

Ombudsperson: Azerbaijan has recorded 3,416 mine victims since 1991

® “Baku Steel Company” CJSC continues its ecological projects

COP28: The climate crisis is also a health crisis

Azerbaijani para judokas clinch two silvers at 2023 Tokyo IBSA Grand Prix

India resumes imports of Venezuelan oil, Reliance seeks direct deal

Death toll in Tanzania flash floods, landslides reaches 47

AZN 17m allocated for reconstruction of Sugovushan-Sarsang reservoir-Gozlukorpu-Kalbajar highway – ORDER

Moscow sees heaviest-ever snowfall in 145 years of weather observation

Baku hosts 1st Meeting of Tourism Specialized Education Institutions of ECO Member States

Amazon's former vice president visits "ASAN Xidmet" center

Former US ambassador arrested in Florida, accused of serving as an agent of Cuba, AP source says

Rasht-Astara railway to increase transit cargo transportation to 15 million tons

Uzbekistan’s Oly Majlis delegation pays tribute to Great Leader Heydar Aliyev and Azerbaijani martyrs

Turkish citizens evacuated from Gaza arrive in Istanbul

Iranian President Raisi officially welcomes Cuban counterpart

On occasion of commemoration of International Day of Disabled Persons, OIC Secretary-General calls on member states to enhance role in social Justice and social security

U.S. to deploy new ground-based missiles to Indo-Pacific in 2024

Habeck cancels COP28 trip to focus on fixing budget crisis

Over 870 foreigners leave Gaza Strip on weekend

Oil prices drop in world markets

11 dead, scores hurt in Filipino Mindano State University bombing

11 climbers die after volcanic eruption in Indonesia

Foreign Ministers of Caspian Littoral States to gather in Moscow

Presentation on green energy potential of Karabakh and Eastern Zangazur held in Dubai

Azerbaijani figure skater wins Bosphorus Istanbul Cup 2023

Azerbaijani delegation attending World Media Summit in China VIDEO

Media tour experiences Jakarta-Bandung High-speed Railway

Troops kill 11 extremists in clash in southern Philippines

Toyota cars have serious problems with the fuel system

Mexico 'mummified alien corpses are 'not human' - 30% of DNA is from 'unknown species'

Mindanao: Four killed in explosion at Catholic Mass in Philippines

Nine dead after armed men raid Peru's Poderosa mine – ministry

Germany beat France to lift first U17 World Cup title

Azerbaijani, Bulgarian foreign ministries hold political consultations

President Ilham Aliyev participated in event held on occasion of National Day of United Arab Emirates in Dubai VIDEO

M6.9 earthquake hits Surigao del Sur in the Philippines

UEFA sets $360 million prize fund for 24 national teams at Euro 2024 from revenue of $2.6 billion

Türkiye's exports see record high November figure

Economy Minister: Azerbaijan aims for reduction of greenhouse gas emissions by 40% by 2050

President of Senate: Azerbaijan is a friendly country for the Czech Republic

Azerbaijani wrestlers grab three more world medals in Baku

Combined Arms Army holds review-competition of operated vehicles

US pledges $3 bln for Green Climate Fund at COP28

‘Thanksgiving’ sequel in the works with director Eli Roth

Japan considering financial support for Egypt

Azerbaijani PM congratulates UAE Vice President on Independence Day

UNESCO forum highlights destruction of Azerbaijani cultural heritage in Armenia

Prague hosts presentation of film about Azerbaijan

Fu Hua: Xinhua and AZERTAC should further deepen its cooperation in light of modern challenges VIDEO

Bayern Munich vs Union Berlin postponed due to snow

Bologna's leaning tower sealed off over fears it could collapse

Czech parliamentarians informed about Azerbaijan's peace initiatives

North Korea says any US interference with its ‘space assets’ will be deemed ‘declaration of war’

EURO 2024 draw to be held on Saturday

Bill Gates-backed fund buys into Europe's largest green hydrogen-to-methanol Project

Paris Olympics 2024: Locals ask if they're worth the trouble

Azerbaijani judoka Hidayat Heydarov crowned Grand Slam title in Japan

Speaker of Czech Republic’s Parliament Chamber of Deputies informed about anti-terrorist measures carried out in Karabakh

Azerbaijani judokas claim two medals at Tokyo Grand Slam 2023

Türkiye showcases environmental policies at UN climate summit

Azerbaijan Army’s Chief of General Staff inspects combat readiness of military units stationed in high mountainous areas VIDEO

This 'forbidden' exoplanet is way too massive for its star

British Ambassador in Moscow informed about restoration and reconstruction works carried out in Karabakh

Etna erupts again, sending hot lava down its snowy slopes

Azerbaijani FM: The destructive activities of certain third parties in the region do not serve peace

Azerbaijani oil price exceeds $85

'Leave The World Behind': Strangers, danger and layers, says Julia Roberts

WHO chief voices 'extreme' concern over resumption of fighting in Gaza

His Excellency Mr. Thongloun Sisoulith, President of the Lao People’s Democratic Republic

Azerbaijani Para taekwondo fighter grabs bronze at Manchester 2023 World Taekwondo Grand Prix Final

4 Nir Oz residents abducted in Oct. 7 onslaught died in Hamas captivity

Oil prices drop in world markets

Western Azerbaijan Community: European Union’s approach to issues based on ethnic and religious grounds is unacceptable

President of Stirling Foundation: The religious community of Utah State is interested in deepening of spiritual ties with Azerbaijan

Azerbaijan’s parliamentary delegation pays official visit to Czech Republic

COP28 summit opens as Erdogan talks on Gaza, net-zero commitment

Azerbaijan's business tourism opportunities promoted in Spain

Azerbaijani wrestlers claim five more world medals in Baku

France's government ministers to ditch using WhatsApp for French app Olvid over security fears

German MPs informed about Azerbaijan’s peace initiatives

20 short films, 10 documentaries to compete at Türkiye's Bogazici Film Festival

Uzbek minister visits "ASAN Xidmet" center

® Qualifiers for Informatics Olympiads supported by Azercell join the autumn school

Azerbaijani female wrestlers bag two more world medals in Baku

Azerbaijani weightlifters to contest medals at 2023 IWF Grand Prix II

Poor countries win fight for climate cash at COP28

To His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates

Azerbaijan sends another batch of aid to Türkiye’s Kahramanmaras province

Montenegrin FM: We are interested in developing relations with Azerbaijan

Azerbaijani table tennis player clinches silver in international tournament

Democrats have no Biden backup plan for 2024, despite age concerns

Azerbaijan, Uzbekistan discuss cooperation in fields of cybersecurity and space

AZERTAC-initiated events marking anniversary of Great Leader in Georgian media spotlight

The second draw of Birbank’s “10 001 gifts” lottery has completed