Azerbaijan is ready to cover Europe’s need for natural gas, president of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovnag Abdullayev said.
At a press conference in Istanbul Hotel Grand Tarabya, SOCAR president said that the proven gas reserves in Azerbaijan are estimated at $ 3 trillion cubic meters and the basis for the development of energy cooperation between Baku and the European Union is a project of the Southern Gas Corridor.
According to him, with the introduction of new gas capacities, the export potential of Azerbaijan will not fall below 40-50 billion cubic meters per year by 2025.
"Most of this gas will go to the European markets, requiring us to create a safe corridor for energy", the head of SOCAR said.
According to him, this corridor must consist of three stages.
"The first stage will be a pipeline which now transports ShahDeniz-1 gas via Georgia. Second is the Trans-Anatolian pipeline (TANAP), which will contribute to the energy security of Turkey and Azerbaijan. All procedures related to the construction of TANAP have been resolved, a consortium incorporating BOTAŞ and TPAO with SOCAR as operator has been created. It is possible that the same consortium will include some companies that are partners in the Shahdeniz project", Abdullayev said, recalling that TANAP transit potential in the first phase will amount to 16 billion cubic meters of gas per year, and then rise to 30 billion cubic meters.
"TAP will be the third part of this system", Abdullayev said.
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