IEA expects significant gas production increase in Azerbaijan

Baku, Azerbaijan, Sept. 12

By Ilkin Shafiyev - Trend:

The International Energy Agency (IEA) predicts that over the next 20 years, annual natural gas production in Azerbaijan will grow to 55 billion cubic meters, the IEA Executive Director Fatih Birol told reporters in Baku Sept. 12.

"We predict that over the next 20 years Azerbaijan will increase annual volume of production of natural gas from the present 18 billion cubic meters to 55 billion cubic meters. This is very important both for the Azerbaijani economy and for the status of the country as an exporter of natural gas. Azerbaijan has established itself as a reliable partner separating political issues from energy industry," Birol said.

The production of commercial gas in Azerbaijan in January-July 2018 amounted to 10.5 billion cubic meters according to the data of the State Statistics Committee, which is 3.6 percent less than the indicator for the same period in 2017.

The International Energy Agency is an autonomous organization whose obligation is to ensure provision of reliable, affordable and clean energy for its 29 member countries. The initial role of the IEA, founded in response to the oil crisis of 1973-1974, was to help countries coordinate a collective response to significant oil supply disruptions through the release of emergency oil reserves to the market.

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