Friendship deal buoys fresh Caspian hopes
Having settled a 30-year field demarcation dispute with Turkmenistan, Azerbaijan is cheerleading for a second phase of the Southern Gas Corridor
Sentiment in Azerbaijan’s capital Baku has been on an upbeat trajectory in early 2021. Even declining oil production at its Azeri-Chirag-Gunashli (ACG) fields in 2020, where output fell by 10pc to 175mn bl, has failed to put a dampener on Azeri optimism. Having secured an emphatic military victory over Armenia over the disputed Nagorno-Karabakh region, the southern Caucasus oil and gas producer ended last year by completing the first phase of the 16bn m³/yr Southern Gas Corridor (SGC) pipeline system, which is sending Caspian gas 3,500km from the Shah Deniz field to Europe. First gas to Greece and Bulgaria arrived on 31 December. 32pc – Jan/Feb increase in Azeri gas exports Gas e

Also in this section
13 March 2025
Gas will become a more important part of the energy mix longer-term raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
12 March 2025
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek