Baku, Azerbaijan, May 18
By Leman Zeynalova – Trend:
Azerbaijan’s total gas exports will rise to 16 billion cubic metres per year (bcma) by late 2021, Trend reports citing Moody’s Investors Service.
The report shows that in 2018, the country's hydrocarbon sector contributed 92 percent of total goods exports, 79 percent of industrial production, and 42 percent of GDP, among the highest of rated hydrocarbon producers.
Moody’s does not expect a significant reversal in these shares over the next three to five years.
“In fact, the contribution from the hydrocarbon sector is more likely to increase, as gas production and exports from Shah Deniz 2 – the second stage of Azerbaijan's largest gas field – ramp up, while oil production remains stable. The completion of the section of the Trans-Anatolian Pipeline (TANAP) that transports gas to Turkey (Ba3 negative) has already lifted gas exports, while the pending section of TANAP and the Trans-Adriatic Pipeline that will transport gas to the European Union (Aaa stable) will be ready by the end of 2020. Under this baseline scenario, total gas exports will increase to 16 billion cubic metres per year (bcma) by the end of 2021, compared to average gas exports of 7.4 bcma over 2012-17,” reads the report.
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