Page 62 - bne monthly magazine October 2022

62 I Eurasia bne October 2022
Azerbaijan seems capable of supplying the extra gas, but a lot will depend on continuing exploration work, financing and whether or not Turkey will turn down the gas. Photo: Ahmet Colakoglu
How much Azeri gas can head
to Europe?
bne IntelliNews
What: The EU wants to double Azeri gas supply to 20 bcm per year by the late 2020s.
Why: The bloc is scrambling to obtain alternatives to Russian gas.
What next: A lot will depend on progress at upstream projects, and whether or not Turkey, which has first rights to extra supply via the Southern Gas Corridor, turns it down.
Europe has reached out to Azer- baijan as a source of additional gas supply to eliminate more of its imports from Russia. But how much extra gas the country would be able to provide, beyond the 10bn cubic metres
www.bne.eu
per year it is already sending, will depend on results from upcoming exploration work at key fields, and whether Turkey waives its first rights to supplies.
Production prospects
Currently, all of the gas that Azerbaijan delivers to Europe comes from the Shah
Deniz Stage 2 project in the Caspian Sea. The country has discovered several more potentially promising fields,
but they are all at varying stages of exploration and appraisal. This means there is quite some uncertainty about how much extra supply they could provide. In some cases, only one or two
“Currently, all of the gas that Azerbaijan delivers to Europe comes from the Shah Deniz Stage
2 project in the Caspian Sea. The country has discovered several more potentially promising fields, but they are all at varying stages of exploration and appraisal”