BAKU, Azerbaijan, Apr. 27
By Nargiz Ismayilova - Trend:
The International Monetary Fund (IMF) forecasts that Azerbaijan’s gas export will increase to 111.1 million barrels per day in 2020 and to 125.6 million barrels per day in 2021, Trend reports citing the April issue of the IMF's Regional Economic Outlook (REO) report for the countries of the Caucasus and Central Asia.
In 2019, this indicator was 96.5 million barrels per day, the report said.
According to the report, the IMF forecasts that the volume of produced gas in Azerbaijan will increase to 244.2 million barrels per day in 2020, and in 2021- 260.7 million barrels per day.
This indicator was equal to 227.7 million barrels per day in 2019
The presented forecast is made taking into account the coronavirus pandemic (COVID-19) and lower oil prices on world markets.
In the first quarter of 2020, Azerbaijan’s export of natural gas amounted to 3.85 percent of the country’s total export.
In 2019, the volume of natural gas export from Azerbaijan amounted to 12.5 billion cubic meters, and the value in monetary terms – to $2.4 billion.