Baku, Azerbaijan, June 14
By Leman Zeynalova – Trend:
Natural gas production in Azerbaijan stood at 17.5 billion cubic meters in 2016, or 3 percent less than in 2015, according to the BP Statistical Review of World Energy.
The country’s proved gas reserves totaled 1.1 trillion cubic meters at end 2016, which accounts for 0.6 percent of the world proved gas reserves, according to BP estimates.
This is while gas consumption in Azerbaijan stood at 10.4 billion cubic meters in 2016, or 2.2 percent less than in 2015, said the report.
BP is the operator of Azerbaijan’s Shah Deniz field’s development. A contract for development of the Shah Deniz offshore field was signed on June 4, 1996. Shareholders in the contract are BP (operator - 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), LUKOIL (10 percent), NIOC (10 percent) and TPAO (19 percent).
In 2016, 10.7 billion cubic meters of gas and 2.5 million tons (about 20 million barrels) of condensate were produced from the Shah Deniz field.
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