Caspian Sea to take more serious role in providing Europe with natural gas

“The role of the Caspian sea will increase in meeting Europe`s demand for gas,” Azerbaijani Minister of Industry and Energy Natig Aliyev said at the Euronest PA Energy Committee meeting in Baku.

“Azerbaijan`s investment in the oil and gas industry will reach $100 bln soon,” he said.

The Minister said some $50 bln was invested in the oil and gas sector in 1994-2012. The figure will increase two fold in the near future.”

“Azerbaijan wants to increase oil and gas production, and the relevant plan of action is ready. In addition, the capacity of the Baku-Tbilisi-Erzurum pipeline will reach 50 bln cubic meters,” Aliyev added.


/AzerTAc/