Opening Baku Energy Week and XXVII Caspian Oil and Gas International Exhibition, the President recalled that Azerbaijan exported 22 billion cubic meters of gas in 2021, plans 24 billion this year and hopes to increase production by 2023.
“This depends on the commissioning of new fields, because our gas potential is not limited to Shaj Deniz,” he explained, referring to the deposit of the same name in the waters of the Caspian Sea, the most important in the Caucasus nation.
Aliyev explained that the European Union is currently registering a large demand for Azerbaijani energy resources, which Baku considers as a responsible country, so its authorities are thinking about building new connections and connections with the EU.
With that in mind, he recognized that his country needs time to increase exports, so potential consumers need to understand that the nation will be able to increase production in a year’s time.
“New contracts, new infrastructure are needed. That is why we are now thinking about expanding the capacity of existing gas pipelines,” the head of state was quoted as saying by the TASS news agency.
Azerbaijan will supply gas to Europe from December 31, 2020 via the Trans-Adriatic Pipeline, which is part of the Southern Gas Corridor, a pipeline system running from Baku to southern Italy, passing through Georgia, Turkey, Greece and Albania.
The 25-year contract stipulates that Baku will supply more than 10 billion cubic meters of gas to the European market, including eight billion to Italy and one billion to Greece and Bulgaria.
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