Minister: Azerbaijan enters new stage in development of its gas reserves

Azerbaijan is entering a new stage in the development of its natural gas reserves, Azerbaijan's Energy Minister Parviz Shahbazov said during the panel discussion themed "Global cooperation for a sustainable and continuous energy future" within the framework of the 30th Anniversary International Caspian Oil and Gas Exhibition and the 13th Caspian International Energy and Green Energy International Exhibition held in Baku, according to Report.

“As a trusted energy supplier, the continued growth of Azerbaijan’s gas industry is of strategic importance — particularly for the energy security of our European partners.

We are now entering a new phase of development of our natural gas reserves, with five major projects currently underway.

During this Baku Energy Week, we are also advancing key agreements:TPAO’s participation in the Shafag-Asiman project; a deal with ExxonMobil onshore oil and gas; and further agreements with MOL, ITOCHU, and Gran Tierra Energy — all representing meaningful progress in this direction,” the minister noted.