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On November 11, the Ministerial Roundtable of the Gas Exporting Countries Forum (GECF) started. On November 12, the 22nd Ministerial Meeting of the GECF will be held. Representatives of member and observer countries of the organization, including the Minister of Energy of Azerbaijan Parviz Shahbazov, also take part in the online meetings.
The Roundtable on the impact of the COVID-19 pandemic on the world's natural gas markets began with opening address by Abdelmadjid Attar, Minister of Energy of People's Democratic Republic of Algeria, President of the GECF Ministerial Meeting and Yury Sentyurin, Secretary General of GECF.
Minister of Energy Parviz Shahbazov made a speech at the Roundtable. Stressing that energy projects authored by Azerbaijan have changed the energy map of the region and Europe, the Minister noted that “Our main goal is to ensure energy security and contribute to global development by achieving strong cooperation between producer, transit, and consumer countries in the process”.
It was noted that with the completion of TAP, Azerbaijan will enter the European market for the first time following Georgia and Turkey.The Minister drew attention to the facts that the supply of 16 billion cubic meters of Azerbaijani natural gas to Turkey and Europe via the Southern Gas Corridor has already become a reality, the South Caucasus Pipeline, TANAP and TAP pipelines also have the potential to expand in the future to transport additional volumes, and in the first ten months of this year, gas exports to Turkey increased by 20% thanks to TANAP.
Gas production in Azerbaijan, projected at 38 bcm this year, is expected to reach a peak – approximately 50 bcm in 2024. The annual production from the Shah Deniz field, the main source for the Southern Gas Corridor, is expected to reach 19 bcm this year, and 27 bcm in 2024.
Parviz Shahbazov touched upon Azerbaijan's recent historic victory ending the 30-year long conflict and noted that this great victory, which ensures the restoration of our territorial integrity and justice, will be a strong guarantee of gas supply, energy security, as well as regional security.
The Ministerial Roundtable of the GECF will continue to operate in two sessions. Besides member countries of GECF such as Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, Venezuela, the representatives from the Observer countries Azerbaijan, Iraq, Kazakhstan, Malaysia, Norway, Oman, Peru and the United Arab Emirates participated at the meeting.
It should be reminded that Minister of Energy Parviz Shahbazov is expected to deliver speech also at the opening session of the 22nd Ministerial Meeting of the GECF to be held on November 12 at 16:00 Baku time.