Azerbaijan: Total gas find raises hopes of more Caspian discoveries | beyondbrics

Total’s announcement this month of huge reserves at its offshore Absheron field  in Azerbaijan does not on its own transform the European energy market.

At an estimated 150-300bn cubic metres (bcm), the gas field contains the equivalent of four to eight months of EU annual gas consumption.

But Total‘s news changes the picture for Azerbaijan, say experts, because it creates the tantalizing possibility that the country could yield more such finds – and grow into a major gas source for the EU.

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