Azerbaijani Gas Again on the Front Burner
Azerbaijan’s president Ilham Aliev has announced a doubling of the reserves of both oil and gas in his country’s Caspian offshore. New finds in as many of five fields to be developed contain perhaps 50 trillion cubic feet of gas, such as to require a new gas export pipeline. An executive of the national oil company SOCAR has hinted that gas from Turkmenistan could be included, starting even in the near term with small quantities. The French company And although Gazprom has lately offered to buy Azerbaijani gas at near-market prices, probably for re-export to Europe via its planned South Stream pipeline, Azerbaijan has not shown much interest, instead declaring that it will feed the first contracted gas into the rival Nabucco pipeline destined for Bulgaria and beyond.