TBILISI, September 25 – Energy giant Chevron may be preparing a comeback in the Caspian energy game, with talks underway about re-entering the Baku–Supsa export pipeline project, according to Energy Intelligence Group economist Julien Mathoniere, cited by Report.az.
Chevron exited Azerbaijan last year, selling its stakes in the Azeri–Chirag–Gunashli (ACG) oilfield block and the Baku–Tbilisi–Ceyhan pipeline. But Mathoniere said the company is now interested in shipping crude from Kazakhstan’s Tengiz field through Azerbaijan, using existing export routes.
He added that Chevron is not alone. ExxonMobil, which still holds a 6.79% share in the ACG project, is also showing strong interest. If Exxon keeps its stake, Mathoniere noted, it could expand its reserves through new projects targeting deeper gas layers in the field.
The analyst described this renewed U.S. interest as part of a broader trend, pointing to Azerbaijan’s growing role as a strategic export hub. The country is working to double gas deliveries to the European Union by 2027, aiming for 20 billion cubic meters annually.
At the same time, Azerbaijan has started supplying gas from its Shah Deniz field to Syria via Turkey, in volumes of about 1.2 billion cubic meters per year.
Azerbaijan’s export infrastructure could see a resurgence as Europe tries to diversify away from Russian energy since the invasion of Ukraine.
