News ID: 253581
Published: 0212 GMT May 31, 2019

Caspian region to increase its gas production by 54%: GECF

Caspian region to increase its gas production by 54%: GECF

The Caspian region is expected to increase its gas production by 54 percent by 2040, the Secretary General of Gas Exporting Countries Forum (GECF) Yury Sentyurin said during the 26th International Caspian Oil and Gas Conference in Baku on Thursday.

He pointed out that positive dynamics of natural gas demand is a fundamental factor affecting the Caspian region countries’ efforts to expand their production capacities and develop export infrastructure, reported Trend News Agency.

“The Caspian region is projected to increase its gas production by 54 percent. Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan, all Caspian countries, will be the main contributors to the impressive expansion, given a large number of projects already being realized,” said the official.

The region has bright prospects for increasing pipeline gas exports by supplying new markets, like Afghanistan, India, and Pakistan and, of course, Europe and expanding the existing ones to China and Turkey, said the GECF secretary general.

He pointed out that Europe has been diversifying its supply sources with the Southern Gas Corridor, which is under construction for the time being.

“The Caspian gas industry is positioning itself solidly on the markets. GECF is commending the contribution of this region to the stability of the global gas market,” said Sentyurin.

 

   
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