BAKU, Azerbaijan, March 3. The Shah Deniz field has produced a total of 267 billion cubic meters of natural gas and 52.7 million tons of condensate since its commissioning, with 87 billion cubic meters coming from the “Shah Deniz-2” phase, said Vitaliy Baylarbayov, Deputy Vice President of the State Oil Company of Azerbaijan (SOCAR), Trend reports.
Speaking at the 12th Ministerial Meeting of the Southern Gas Corridor Advisory Council (SGC) and the 4th Ministerial Meeting of the Green Energy Advisory Council (GEAC) in Baku, Baylarbayov noted that the field is currently operating at peak capacity.
“Last year alone, 27.4 billion cubic meters of gas and 3.8 million tons of condensate were produced. Its stable and scalable operations have created a solid foundation for the establishment of the Southern Gas Corridor,” he said.
He highlighted that the European Union (EU) is facing structural supply challenges. Over the past decade, domestic production has declined by roughly two-thirds while consumption has remained relatively stable, resulting in an import dependency of nearly 90%.
“In this context, the Southern Gas Corridor has become a critical component of Europe’s energy system. The project opens a fourth gas supply route for the EU, diversifying both sources and supply paths. This strengthens energy security while providing a cleaner alternative to more carbon-intensive fuels, supporting the EU’s green transition goals and contributing to system stability during the energy sector’s transformation,” Baylarbayov added.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel