Caucasus (bbabo.net), - Azerbaijan has started swap operations with a Turkmen gas company. This was stated by the President of the Transcaucasian Republic, Ilham Aliyev, speaking today, November 25, at the international conference "Along the Middle Corridor: Geopolitics, Security and Economics" in Baku.
“We have started swap operations with Turkmengas. This is important given the growing needs of Azerbaijan in the gas industry, as well as the increased need for large volumes of gas. We also continue to work with foreign companies, we plan to increase gas production from existing and new fields, which will be launched next year, in particular, from the Absheron gas condensate field,” the Azerbaijani leader said.
According to him, the hydrocarbon transportation routes that are already in operation will enable all the countries of the Caspian region to become more integrated.
“Our cooperation with Turkmenistan has a long history. Today, Azerbaijan provides significant opportunities for the transit of goods from Turkmenistan, and in the seaport of Alyat we have allocated a separate section for goods from Turkmenistan,” Aliyev recalled.
Last summer, Turkmenistan and Turkey actively discussed ways to supply gas from Central Asia. Ankara hoped that the Turkmen volumes would be resold to Europe, where the cost of natural gas periodically renews historical highs.
As for Azerbaijan, it is interested in obtaining additional volumes of gas from external sources with a view to fulfilling its strategic goal in the next five years - to double the supply of a strategic energy carrier to the European market by 2027.
President Ilham Aliyev indicated last month that in 2027 the volume of Azerbaijani gas supplies to Europe would reach at least 18 billion cubic meters per year.