BAKU, Azerbaijan, Apr.14
By Leman Zeynalova – Trend:
The International Monetary Fund (IMF) forecasts that Azerbaijan’s natural gas production will grow from 0.62 million of barrels per day in 2020 to 0.67 million of barrels per day in 2021, Trend reports with reference to IMF.
The country is expected to ramp up production in 2022 and bring it to 0.71 million of barrels per day, according to the organization.
IMF estimates that the country’s gas output was equal to 0.62 million of barrels per day in 2018 and 0.55 million of barrels per day in 2017, while the average production amounted to 0.30 million of barrels per day between 2000 and 2017.
In 2020, gas production in Azerbaijan increased by 4 percent compared to 2019 and amounted to 37.1 billion cubic meters, according to the Azerbaijani Ministry of Energy.
The volume of gas sales from Azerbaijan abroad amounted to 13.5 billion cubic meters in 2020, which is by 590 million cubic meters less than the forecast. The volume of gas sales abroad increased by 1.8 billion cubic meters, that is, by 15.6 percent.
At the same time, natural gas from Azerbaijan was exported to the markets of Turkey and Georgia, and on the last day of the year began to be exported for the first time to the European market.
SOCAR carried out about 56,000 meters of drilling in 2020. The company, independently or as a major participant, produced 7.3 billion cubic meters of gas from the exploited fields.
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