TODAY.AZ / Business

SOCAR increases gas exports in 2019

21 October 2019 [14:14] - TODAY.AZ

By Azernews


By Rasana Gasimova

In the past nine months, the State Oil Company of Azerbaijan (SOCAR) exported 1 billion 103.57 million cubic meters of natural gas, the company told local media.

In January-September 2018, SOCAR exported 871.812 million cubic meters of gas. Thus, the growth of export amounted to 26.6 percent last year.

“In particular, in July-September 2019, SOCAR exported 145.9 million cubic meters of natural gas. Azerbaijan’s overall gas exports during this period amounted to 2.66 billion cubic meters,” the company noted. SOCAR currently exports gas only to Georgia.

According to SOCAR, over the reporting period, the State Oil Company pumped 2.11 billion cubic meters of natural gas into underground gas storages (UGS). “Presently, the volume of gas in the UGS facilities is 2.9 billion cubic meters, which corresponds to the figures of the same period in 2018,” the company noted.

According to statistics, the production of gasoline amounted to 914,900 tons in January-September 2019 (a 0.9 percent increase), production of diesel fuel amounted to 1 million 635,700 tons (a 7.7 percent increase), straight-run gasoline - to 202,400 tons (a 19.7increase), and heating oil – to 95,000 tons (a 55.2 increase).

During the reporting period, the decline in the production of kerosene by 1.9 percent - up to 460,100 tons, lubricants by 84.3 percent - up to 17,000 tons, oil bitumen - by 15.6 percent - up to 185,000 tons, petroleum coke by 3.5 percent - up to 189,100 tons was recorded.

Azeri–Chirag–Gunashli (ACG) is the largest oil and gas field in the Caspian Sea, covering over 432 square kilometers. A contract for the development of ACG block of oil and gas fields was signed in 1994 for 30 years.

Proven oil reserves of ACG block of oil and gas fields are estimated at 1.2 billion tons, while gas reserves make 350 billion cubic meters.

On September 14, 2017, a modified and redeveloped agreement was signed on joint development and shared distribution of production from the Azeri, Chirag fields and the deepwater part of the Gunashli field (ACG). The new agreement provides for the development of the field until 2050.

Speaking of pipelines which will deliver Azerbaijani gas to European markets, it is important to note TANAP, which along with TAP, is a part of Southern Gas Corridor project that envisages transportation of gas from Azerbaijani Shah Deniz-2 gas field to European markets.

The main components of the project are Shah Deniz Stage 2, expansion of the South Caucasus pipeline Baku-Georgia-border with Turkey, construction of the Trans-Anatolian Natural Gas Pipeline (TANAP) from Turkey’s eastern border to the western border and the Trans-Adriatic Pipeline (TAP) connecting Greece, Albania and the Adriatic Sea in southern Italy.

The volume of Azerbaijani gas supplies to Europe are expected to amount 10 billion cubic meters in early 2020. In addition, 6 billion cubic meters of Azerbaijani gas will be supplied to the western regions of Turkey. Deliveries to Turkey began in the summer of 2018.

URL: http://www.today.az/news/business/187481.html

Print version

Views: 425

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: