Natig Aliyev: “Oil price decline has not influenced Azerbaijan”

Thu 09 Apr 2015 09:45 GMT | 13:45 Local Time

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"TANAP is not a rival to Russian gas"

Oil price decline has not influenced Azerbaijan, said Azerbaijani Energy Minister Natig Aliyev, APA-Economics reports quoting Aljazeera website.  

According to him, no difficulty arising from oil price is being observed due to low expenses of oil production: “We don’t feel crisis. Because expenses of Azeri oil production are low. However, our total incomes declined. We was earning about $20 bln per year. Now our yearly incomes reduced $5-6 bln after oil price decline”, the minister said.  

The Minister added that oil price is not expected to rebound in a short-time. According to him, the political issues like relations between Iran and West will have impact on oi price from time to time.

Regarding rivalry between TANAP and Turkish Stream, the Minister said that volume of Azerbaijani gas to be transported to Europe is not so much: “Transportation of 10 bcm of gas to Europe will not influence volume and price of gas to be transported from Russia to Europe. TANAP is not a rival to Russian gas. TANAP is only a tool. We see no rivalry here”.

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