Azerbaijan’s huge gas reserves in the Caspian Sea can come into play under certain conditions, said Azerbaijan’s energy minister Parviz Shahbazov during the Russian Energy Week Oct.14, AzVision.az reports.
“Azerbaijan produces and exports gas and is boosting its supplies. The country’s huge has reserves in Caspian may be used under certain conditions and with investments. Higher gas prices also put upward pressure on prices for other energy resources, including coal. The volumes of coal supplies to Europe over the last six months show that in fact, by reducing investments in the gas industry, using more coal, more petroleum products, we cause more harm to environment,” added Shahbazov.
The minister noted that it is necessary to use all the existing energy resources. “Gas is more environmentally friendly as compared to other fuel types. We see quite different forecasts for gas, which cause serious problems for many producers and consumers.”