Industry and Energy

Home page

Industry and Energy

President Aliyev: Some of existing reserves supplying Europe with energy are being exhausted

18 November 2016 12:09 (UTC +04:00)

The head of state noted that the proven gas reserves of Azerbaijan are 2.6 trillion cubic meters. According to him, it will be enough to supply European consumers with gas for decades: “We never considered this project as a kind of alternative or kind of competitor to any other gas projects being implemented in the region. Our project is only aimed at the target, which I identified – to produce, to supply, to satisfy the needs of consumers, to make happy transit countries, and also to earn money for the country. So implementation of the project is on schedule. There were certain delays in Europe regarding some ecological concerns. But, as far as I know, they have been already resolved. In 2018, TANAP project will be commissioned on time. And we hope that by 2020 the rest part of the Southern Gas Corridor will be implemented. But again I would like to say that we need to continue very close international cooperation between seven countries involved in the project, which are Azerbaijan, Georgia, Turkey, Greece, Bulgaria, Albania, Italy and two more countries of the Balkans – Croatia and Montenegro – expressed their willingness to join the project at a later stage.