Shahdeniz field has gas reserves more than volume to meet demand of domestic market and neighbour countries, Azerbaijani energy minister Natig Aliyev said in his interview to Italy’s AGI information agency.

“Therefore, we decided to deliver the gas to Europe. It’s necessary for Azerbaijan to sell the gas. The most reliable market is European market. The European Commission also has a plan to diversify sources and routes, which coincides with Azerbaijan’s plans. So, TAP is not only Azerbaijan’s, but also Europe’s priority.

Therefore, we want to develop the Stage 2. Investment is $45 billion. This is not only economic, but also technological and social project because will launch ten thousands of jobs. In Shahdeniz Stage 2, the Southern Gas Corridor will export 16 bcm of gas, which 6 bcm will be realized in Turkish market. But Azerbaijan has larger gas fields like Absheron. This field’s reserves make 400 bcm.”.

The minister stressed that construction works will be completed in 2019: “First gas will be delivered to Italy in 2020. The works are ahead of schedule. Timely implementation of the project depends on speed of the works in Greece, Albania and Italy. The construction works also require numerous licenses and issuance of these licence will affect the speed of the works”.