The article discusses the rising importance of gas reserves of the Caspian region in a rapidly changing environment and analyses the role of Azerbaijan as one of the main gas producer in the region. Huge investments in exploitation and development of new gas fields in Azerbaijan might tremendously increase the figure of estimated gas reserves of the country and make Azerbaijan able to meet the actual and potential customers in mid-and long-term perspectives. Having an indispensable geographic position, Azerbaijan envisages and participates in all the possible routes of supplying gas including East-West, North-South and South-North axis.