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Azerbaijan almost doubles gas exports

Oil&Gas Materials 14 October 2021 17:37 (UTC +04:00)
Azerbaijan almost doubles gas exports

BAKU, Azerbaijan, Oct.14

By Leman Zeynalova - Trend:

The volume of gas exports by Azerbaijan stood at 4.4 billion cubic meters in Q3 2021, or 48 percent more as compared to the same period in 2020, Trend reports with reference to the country’s state oil company SOCAR.

During the reporting period, Azerbaijan consumed 2.4 billion cubic meters of gas, a 8-percent increase as compared to Q3 2020.

SOCAR exported 4.5 million tons of oil, thereby increasing its supplies by 22 percent. This includes both crude oil produced in Azerbaijan and the volumes extracted by SOCAR.

OPEC forecasts Azerbaijan’s 2021 liquids supply to show growth of 0.02 mb/d y-o-y to average 0.75 mb/d. In 2022, the liquids supply is forecast to grow by 0.07 mb/d y-o-y to average 0.82 mb/d. The US Energy Information Administration (EIA) expects that petroleum and other liquids production in Azerbaijan will stand at 0.74 million barrels per day in 2021.

The estimated quarterly production in 2021 is as follows: 0.74 million barrels per day in Q1, 0.69 million barrels per day in Q2, 0.72 million barrels per day in Q3 and 0.78 million barrels per day in Q4.

Azerbaijan is expected to produce 0.80 million barrels per day in 2022 with quarterly production standing at 0.81 million barrels per day in Q1, 0.80 million barrels per day in Q2, 0.78 million barrels per day in Q3 and 0.81 million barrels per day in Q4.

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