President of Azerbaijan: Number of countries may join Sothern Gas Corridor

Baku. 10 October. REPORT.AZ/ Development of "Shah Deniz" field is one of four major projects highly important for energy safety.

Report informs, Azerbaijani President Ilham Aliyev said in the XXIII World Energy Congress in Istanbul, Turkey.

According to the head of state, seven countries participate in implementation of Southern Gas Corridor (SGC) project and some more are expected to join. Our economy was highly dependent on oil and gas. However, currently oil and gas sector accounts only for 30% of the economy.

At present, Azerbaijan possesses 2.6 trillion cubic meters of natural gas reserves, President Ilham Aliyev stated: "Shah Deniz" is major natural gas field in Azerbaijan. Number of companies took part in delivery of Azerbaijani natural gas to the world market. But Azerbaijani and Turkish governments made major contribution by signing agreement aimed at implementation of Transanatolian Pipeline (TANAP) project in 2012 in Istanbul. TANAP is a part of the SGC project with totaled cost of 45 billion USD.