The recent discovery of a sizable, new natural gas field in the Caspian Sea is giving officials in Azerbaijan additional reason to cheer. But the discovery also is highlighting a dilemma for Baku – one in which the abundance of gas is currently offset by a dearth of export capacity.
It’s a problem that Azerbaijani officials are happy to have. The new gas field, discovered off the Absheron Peninsula, contains an estimated 350 billion cubic meters of gas and 45 million tons of condensate. An ebullient President Ilham Aliyev predicted on September 9 that the discovery will help turn Azerbaijan into “a large-scale gas exporter” within “several decades.” Some analysts agree, saying that Azerbaijan eventually could export more gas than oil.
The net effect of Azerbaijan’s gas dilemma is that some long-discussed, but as yet unfulfilled export routes will get a second, or even third look. Azerbaijan’s current proven gas reserves stand at 2.55 trillion cubic meters, a far cry from Russia’s 47.57 trillion cubic meters, and less than half of Turkmenistan’s 7.5 trillion cubic meters.
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