Baku, Azerbaijan, Oct.28
By Emil Ismayilov - Trend:
The volume of gas production in Azerbaijan will reach 30.2 billion cubic meters in 2018, compared to 28.42 billion cubic meters forecasted for 2014, a source in the country's government told Trend on Oct.28.
Azerbaijan produced 29.45 billion cubic meters of gas in 2013.
The source said although the volumes of gas production forecasted for 2015 and 2014 are equal, it is expected that the gas production volume will increase starting from 2016.
Gas production is expected to hit 29.55 billion cubic meters in 2016 and 29.92 billion cubic meters in 2017, while this figure is forecasted to exceed 30 billion cubic meters in 2018, according to the source.
The major part of gas produced in Azerbaijan falls to the Azeri-Chirag-Guneshli oil and gas fields' block and Shah Deniz gas condensate field, which are developed jointly with foreign partners and other onshore and offshore fields of Azerbaijan.
The State Oil Company of Azerbaijan (SOCAR) alone produces nearly 7 billion cubic meters of gas per year.
Azerbaijan's proven gas reserve is estimated at 2.55 trillion cubic meters.