BAKU, Azerbaijan, Oct.20
By Leman Zeynalova – Trend:
The International Monetary Fund (IMF) expects Azerbaijan’s gas production to rise from 0.67 millions of barrels per day in 2021 to 0.71 millions of barrels per day in 2022, Trend reports with reference to the organization.
Azerbaijan’s gas production stood at 0.62 millions of barrels per day in 2020, unchanged from 2019.
The country’s gas exports are also set to grow from 0.32 millions of barrels per day in 2021 to 0.36 millions of barrels per day in 2022. The country exported 0.28 millions of barrels per day in 2020, as compared to 0.26 millions of barrels per day in 2019.
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, according to the 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.
Azerbaijan’s proven gas reserves grew by 14.8 percent standing at 2.2 trillion standard cubic meters in 2020, as compared to 1.9 trillion standard cubic meters in 2019, according to OPEC’s Annual Statistical Bulletin. Azerbaijan’s marketed gas production grew by 7.7 percent from 20.811 billon standard cubic meters in 2019 to 22.408 billon standard cubic meters in 2020. The country’s natural gas exports fell by 12.4 percent in 2020 standing at 9.900 billon standard cubic meters, as compared to 11.300 billon standard cubic meters in 2019.
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