OREANDA-NEWS. April 19, 2010. During the meeting President Aliyev emphasized significance of discussion of forthcoming work on organization of long-term partner relationship with the EU in the area of energy and availability of good potential for expansion of co-operation in this sector with taking into account energy resources, infrastructure and the level of production in Azerbaijan.

Commissioner Oettinger was also received by Rovnag Abdullayev, the president of the State Oil Company of Azerbaijan (SOCAR), who presented him information about the course of realization of country’s main gas project   - development of gas condensate field Shah Deniz. The parties also exchanged views about gas pipeline projects Nabucco, ITGI, TAP.

Following Baku negotiations Mr. Oettinger pointed out that Azerbaijan was able to ensure larger part of gas for Nabucco, but not entire gas as internal gas needs grow and gas supply contracts with neighboring countries increase.

The EU Commissioner said that sales market surveys were being conducted for realization of Nabucco Project and voiced a hope that a decision ion project launch would be made before the end of 2010.

“In early autumn we plan to organize a conference on Nabucco with involvement of all the interested parties. Political will of many countries, including transit and EU member ones is necessary for realization of Nabucco Project. Decisions of gas supplier countries are important as well. Azerbaijan plays the key role in gas supplies for Nabucco, but it is also important availability of other suppliers for successful development of the Project. Turkmenistan has already given consent on supply of missing volumes of gas for Nabucco,” Mr. Oettinger said.

Besides Azerbaijan and Turkmenistan, other countries are not considered as gas suppliers for Nabucco.

“Iran will hardly become a large gas exporter in the next few years. Moreover, it itself imports gas. In addition, here are certain political risks in Iran and Iraq. Unlike them Azerbaijan observes full political stability,” Commissioner Oettinger said.

Minister of industry & energy Natig Aliyev of Azerbaijan said, in his turn, that Azerbaijan appraises high Nabucco Project.

“Commercial, economic and environmental risks of the Project should be estimated. Besides, it is needed to define gas sources and sign long-term gas supply agreement and negotiate all transit conditions. Azerbaijan possesses sufficient gas reserves to develop existing export routes and open new ones. Azerbaijan’s extracted gas reserves total 2-2.2 trillion cu m. In 2009 gas production reached 23.5 bn cu m. In case production keeps at such level and even if no new fields are discovered, this gas will be enough for another 100 years. Use of high technologies and opening of new fields will enable to increase gas reserves,” President Aliyev said.