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OPEC revises up Azerbaijan’s proven natural gas reserves

Oil&Gas Materials 13 July 2020 18:13
OPEC revises up Azerbaijan’s proven natural gas reserves

BAKU, Azerbaijan, July 13

By Leman Zeynalova - Trend:

Azerbaijan’s proven natural gas reserves stood at 1.718 trillion standard cubic meters in 2019, as compared to 1.435 trillion standard cubic meters estimated in 2018, Trend reports citing OPEC’s 2020 Annual Statistical Bulletin.

Thereby, the cartel has revised up the country’s proven gas reserves by 19.7 percent year-on-year.

OPEC estimated Azerbaijan’s proven gas reserves at 1.284 trillion standard cubic meters in 2015, 1.277 trillion standard cubic meters in 2016 and 1.270 trillion standard cubic meters in 2017.

Azerbaijan’s marketed production of natural gas was estimated by OPEC at 20.811 billion standard cubic meters in 2019, versus 17.800 billion standard cubic meters in 2018, or 16.9 percent increase year-on-year.

This figure stood at 18 billion standard cubic meters in 2015, 17.500 billion standard cubic meters in 2016 and 16.900 billion standard cubic meters in 2017.

Natural gas exports by Azerbaijan equaled to 11.486 billion standard cubic meters in 2019, as compared to 9.190 billion standard cubic meters in 2018, which shows a 25 percent increase.

The country exported 7.320 billion standard cubic meters in 2015, 7.620 billion standard cubic meters in 2016 and 8.030 billion standard cubic meters in 2017.

Natural gas demand in Azerbaijan rose by 19.9 percent in 2019 year-on-year from 10.540 billion standard cubic meters in 2018 to 12.638 billion standard cubic meters in 2019.

The country’s demand for natural gas was 10.880 billion standard cubic meters in 2015, 10.180 billion standard cubic meters in 2016 and 9.420 billion standard cubic meters in 2017.

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