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Azerbaijan aims to produce 40 billion cubic meters of gas by 2025

26 April 2017

Annual production of marketable gas in Azerbaijan will reach 40 billion cubic meters in 2025 according to Nazim Samadzade, first deputy head of the Gas Export Department of the Azerbaijan energy company, SOCAR, who was speaking on the second day of SOCAR's 2nd "International Caspian and Central Asia Downstream Forum - Trading, Logistics, Refining, Petrochemicals".

The SOCAR official said that proved gas reserves are estimated at 2.5 trillion cubic meters: Shahdeniz reserves make up 1.2 trillion cubic meters of gas and 240 million tonnes of condensate. Production in Shahdeniz Stage 1 started in 2006 and about 10 billion cubic meters of gas is produced annually. Production which is expected to make up 16 billion cubic meters in Shahdeniz 2 will start in 2018".

Samadzade added that 800 million cubic meters of Shahdeniz gas are exported to Georgia, 6.6 billion cubic meters to Turkey and 1.5 billion cubic meters are for local consumption.

The SOCAR official noted that according to initial estimates, Absheron field's reserves make up 350 bcm of gas and 45 million tonnes of condensate. Umid field's reserves are expected to be 200 bcm of gas and 40 million tonnes of condensate.

Other countries that currently produce around 40 billion cubic meters of gas per year include the United Kingdom and Mexico, according to statistics from the International Energy Agency

source: commonspace.eu with APA.az

photo: A gas production platform (archive picture)

 

 

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