U.S. predicts increase in gas production in Central Asia in long-term outlook
Azerbaijan, Baku, August 4 /Trend, A.Badalova/
U.S. Energy Information Administration (EIA) predicts an increase in gas production in Central Asia up to 234 billion cubic meters in 2035 from 174 billion cubic meters in 2007. Annual production growth during this period will be one percent. The Central Asian region includes countries of the Caucasus and Middle Asia.
As stated in the EIA International Energy Outlook 2010, a significant increase in production is expected in Turkmenistan, where proven gas reserves as of the beginning of 2010 amounted to about 7.6 trillion cubic meters.
The growth of gas production in the region, according to the EIA report, will also be observed due to Azerbaijan, where it is planned to implement the second stage of development of Shah-Deniz gas-condensate field. After reaching peak production on the Shah Deniz field, annual gas production in the country will increase by 20 billion cubic meters, the EIA report says.
According to BP data, the proven gas reserves in Azerbaijan as of the beginning of 2010 amounted to 1.31 trillion cubic meters. Gas production in the country in 2009 amounted to 14.8 billion cubic meters, which is 0.2 percent more than production in 2008.
Azerbaijani Shah Deniz is one of the largest in the world. Its reserves are estimated at 1.2 trillion cubic meters of gas. It is expected to receive 7.84 billion cubic meters in the field this year, peak production forecasted at over 8.6-9 billion cubic meters. According to forecasts, at the second stage of field's development, gas production will be increased to 25 billion cubic meters per year.
Upon EIA forecasts, world gas production will rise to 4.44 trillion cubic meters in 2035 from 3.04 trillion cubic meters in 2007 with annual growth of 1.4 percent.
Of the total gas production in 2035, 1.28 trillion cubic meters will account for the OECD countries and 3.16 trillion cubic meters for non-OECD countries.