BAKU, Azerbaijan, March 2. Azerbaijan is considering the possibility of participation in foreign gas development projects, an informed source exclusively told Trend.
"In addition to the implementation of gas projects inside Azerbaijan itself, the possibility of participation in foreign gas projects is being considered. Gas is a fuel of the transition period (period of energy transition from traditional to renewable energy resources) and it will be in demand for a long period," the source noted.
He recalled that in the summer of 2023, Azerbaijan started gas production at a large field "Absheron" on the Caspian Sea, and in 2024 its production level will be 1.5 bcm per year, and in a few years it will grow at least three times.
Early 2025 will be the first gas from the deep-water Azeri-Chirag-Guneshli (ACG, deep-gas) block.
"I am sure that in the second half of the 20s of the XXI century, there will be additional exploration works and new fields will be identified. Gas production in Azerbaijan is accelerating," the source emphasized.
He assumed that with this boosting of works Azerbaijan will be able to receive 20 bcm of gas for Europe, but the demand should be specified.
"In this regard, optimization of gas production is also needed in existing fields. The use of different pipelines is being evaluated in parallel. For example, in 2023, we tested the Trans-Balkan gas pipeline to supply gas to Bulgaria via Türkiye. It became an additional alternative to the Southern Gas Corridor, i.e. we showed flexibility in the export strategy," the source emphasized.
According to him, SOCAR Trading actively sells both Azerbaijani and third-country gas to such European states as Bulgaria, Italy, the Netherlands, Belgium, Germany, and Austria.
"The gas market in Europe is active. And Azerbaijan keeps this in mind in planning its gas operations," the source noted.
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