Azerbaijan possesses enough gas resources

SOCAR will completely meet the country's domestic needs for gas and ensure its obligations within the export operations, SOCAR head Rovnag Abdullayev told journalists today.

He said that there are enough gas resources in the country to provide citizens with gas, as well as for export. In particular, this year the volume of gas reserves in underground storage facilities of the country amounted to about 3.5 billion cubic meters, or more than last year.

"The company has the possibility to provide the domestic market with gas and ensure export commitments," Abdullayev said.

SOCAR includes the Azneft production association (the companies producing oil and gas on and offshore), the Azerkimya industrial association (chemical enterprises) and Azerigaz industrial association (gas distribution).

Azerbaijan exports gas to Russia (from January 1, 2010), Georgia, and Turkey.

Azerbaijan's projected reserves are estimated at 6 trillion cubic meters of gas, but proven reserves from the fields which are being developed hit 2.55 trillion cubic meters of gas.


/Trend/