Azerigaz Announced Gas Consumption Forecasts in Azerbaijan for 2007

Oil&Gas Materials 6 December 2006 21:00 (UTC +04:00)

The volume of gas consumption in the country in the next year is expected to be at the level of 9 bln. cubic meters per year. The volume is practically similar to this year figures, a source in Azerigaz CJSC told Trend.

The gas production in the country is expected to reach 5 bln. 914 mln. cubic meters this year. The gas volume fall on AIOC (Azerbaijan International Operating Company). The Company produces it on offshore Azeri-Chiragh-Gunashli fields, as well as SOCAR own gas production fields.

In 2006, the volume of the gas imported to the country from Russia is expected to be 4,5 bln. cubic meters. The imported gas is bought at $110 per 1000 cubic meters.