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    Natig Aliyev: Azerbaijan has large gas reserves on the shelf

    According to the minister, lifting of sanctions towards Iran will revive energy sector

    Baku. 14 July. REPORT.AZ/ "Azerbaijan has large gas reserves in the Caspian Sea, but the beginning of production in these fields is a business of the future."

    According to the Report, Minister of Energy Natig Aliyev said today, answering the question of whether the State Oil Company of Azerbaijan Republic (SOCAR) will begin gas production on the shelf.

    According to N.Aliyev, this kind of oil and gas production is difficult: "Some states began to extract oil and gas from the shelf. However, this is an expensive process. Therefore, we will return to this issue in the future."

    Minister noted that, the lifting of sanctions against Iran will revive the energy sector: "We are delighted with this decision. I think that, lifting of the sanctions will affect oil production. In particular, this will be resulted with an increase in the quota of the OPEC countries. This, in turn, will lead to new cooperation in the region."

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