Baku: Romanian media outlet 'Stiri pe Surse' has published an article highlighting the strategic importance of the start of commercial gas production at Azerbaijan's Azeri-Chirag-Gunashli (ACG) field, describing it as a development that enhances Azerbaijan's position in international energy markets and reinforces Europe's energy security.
According to Azerbaijan State News Agency, the article noted that the launch of first commercial gas production at Azerbaijan's giant ACG field block by Hungary's leading energy company, MOL Group, and its partners, marks a significant milestone for Azerbaijan's energy sector and makes an important contribution to enhancing Europe's energy security.
The article detailed that gas production has begun from the first well drilled from the West Chirag platform in the Caspian Sea, marking the start of commercial gas development at the ACG field. The publication notes that significant gas reserves have been confirmed at ACG, with preliminary estimates pointing to trillions of cubic meters of natural gas that could substantially boost Azerbaijan's export potential and strengthen its position in global energy markets.
The project is important for Europe's energy diversification, with Azerbaijan becoming a reliable gas supplier. Azerbaijani gas already reaches Europe through the Southern Gas Corridor, and new output from the ACG field could boost supplies further. Operated by BP, the consortium includes SOCAR, MOL Group, INPEX, ExxonMobil, TPAO, and ONGC Videsh, highlighting strong international confidence in Azerbaijan's energy sector.
The article highlights that the ACG fields are a key part of Azerbaijan's economic development, with the 1994 'Contract of the Century' laying the foundation for its energy strategy and global market integration. The start of gas production marks a new phase, expected to boost energy diversification, exports, and Azerbaijan's role in global energy markets. Azerbaijan's stable and reliable energy policy has made it an important partner for Europe's energy security, with new gas projects further increasing its strategic importance.
Experts believe that the start of gas production at the ACG field is another crucial step reinforcing Azerbaijan's position on Europe's energy map. The project will not only expand the country's energy potential but also make a significant contribution to Europe's energy security and its policy of diversifying energy sources, the article emphasized.