UNDP: Azerbaijan can earn $ 99 bln from natural gas exports in next 60 years

Baku. 14 February. REPORT.AZ/ A forum on the UN development goals will be held on March 1-2 in Geneva, Switzerland.

Report informs, Deputy Director of the United Nations Development Program (UNDP) for Europe and the CIS, Rastialav Vrbensky said at a consultation seminar on the report "Mainstreaming, Acceleration and Policy Support" (MAPS), organized by the UNDP.

He noted that Azerbaijan will be represented at the level of Deputy Prime Minister at the forum.

UNDP Senior Advisor Ben Slay said that Azerbaijan's economical use of oil and gas reserves is very important: “Although Azerbaijan has rich hydrocarbon reserves, they are not inexhaustible. According to our calculations, the projected oil reserves in Azerbaijan can be sufficient for 23 years. Investments in alternative energy sources should be increased in order to protect the environment and preserve resources. If investments will be made in this area, Azerbaijan will be able to increase its revenues from gas exports. According to our calculations, based on the projected gas reserves, Azerbaijan will earn an average of $ 44 billion from gas exports. If we expand the use of alternative and renewable energy sources, the volume of exported natural gas will increase, and by 2078 the revenues from this export will amount to $ 99 bln."