Natural gas production in Azerbaijan will increase threefold over the next 20 years, said Executive Director of the International Energy Agency Fatih Birol in Baku. Stating that Azerbaijan's annual natural gas production is 18 billion cubic meters, the head of the agency spoke of the importance of TANAP and TAP projects. Noting that Azerbaijan is a key player in natural gas and oil markets, Fatih Birol said one of the most important issues for Europe today is the diversification of gas sources. He stressed that the Southern Gas Corridor project plays an important role in the energy security of Europe and the region. Therefore, the project is expected to expand further in the future.
"We believe that Azerbaijan’s 18 bcm of natural gas production will reach 55 bcm in the next 20 years. This is very important for Azerbaijan’s economy and population. At the same time, Azerbaijan is extremely important as a country that will export natural gas, because Azerbaijan proved itself as a reliable partner, which does not mix energy and politics with each other," Fatih Birol said.
Executive Director of the International Energy Agency, who visited Azerbaijan for the first time, said that the role of Azerbaijan in the oil and gas market today and its role in the organization was a key topic of discussions. During his meeting with Deputy Energy Minister Samir Valiyev, Fatih Birol announced his intention to develop the cooperation with Azerbaijan. He noted that his organization would have discuss with the Government on further work on the petrochemical and alternative energy fields. The head of the agency predicted the rise in oil prices by the end of the year, linking it to the world market demands for oil, the change in oil production in Venezuela and changes in the Middle East, as well as the reduction of Iran's oil exports.
The visit of the Executive Director of the International Energy Agency to Azerbaijan is considered very important in terms of enhancing bilateral relations and evaluating cooperation opportunities.