Azerbaijan may start supplying gas to the planned gas hub in Turkey, if it is profitable for the organizations operating in the country, said Deputy Energy Minister of Azerbaijan Elnur Sultanov on the sidelines of the XV Eurasian Economic Forum in Verona.

"This is a new initiative for us, of course, we'll be watching. Gas in Azerbaijan is mostly produced by an international consortium, not by the Azerbaijani state. Socar is involved there, but it's a consortium with BP, Lukoil, and an Iranian company, and the most important thing for them is the economic justification of this project. If they can make money on it, they will be ready," Sultanov noted.

The publication noted that the known gas reserves in Azerbaijan amount to 2.6 trillion cubic meters. The largest project in the country is the development of Shah Deniz field, where production began in 2006. According to Sultanov, in 2022 gas deliveries to the European Union (EU) should grow by 40% in comparison with last year's figures, up to 11.5 billion cubic meters.

Market experts agreed that Azerbaijan has large gas reserves, but the limiting factor for gas supplies is the lack of infrastructure. Azerbaijan also wants to supply its gas to the EU and participation in Turkish gas hub is a secondary issue. Also, the volumes of gas produced in Azerbaijan are already contracted, and to increase production it is necessary to invest tens of billions of dollars in the development of the fields.