Nation’s 1Q17 gas output stable

Azerbaijan’s sales gas output stood at 4.8 billion cubic meters in the first quarter of 2017, stable compared to the same period of 2016, the Natural Gas World quoted Khoshbakht Yusifzade, first vice-president of the country’s state oil company SOCAR, as saying.

Yusifzade noted that Shah Deniz Stage 1 produced about 2.5 billion cubic meters of gas, less than in 1Q16.

Meanwhile,the associated gas deliveries from the Azeri-Chirag-Gunashli block to SOCAR increased by 0.4 billion cubic meters as compared to the same period of 2016.

Azerbaijan’s gross gas production was 29.4 billion cubic meters in 2016, including 18.71 billion cubic meters of sales gas, of which 6.754 billion cubic meters was exported.

Earlier, Energy Minister Natig Aliyev announced that Azerbaijan plans to produce more gas and less oil in 2017 by 0.8 percent up to 29.561 bcm.

Azerbaijan’s proven gas reserves as of early 2016 amounted to 1.1 trillion cubic meters, which accounts for 0.6 percent of global proven gas reserves, according to BP's estimates.

The country holds over three trillion cubic meters of gas reserves which help develop the country's export potential. The Shah Deniz natural gas and condensate field started producing in late 2006, making Azerbaijan a net gas exporter.

While the main focus is on the Shah-Deniz field with estimated gas reserves at 1.2 trillion cubic meters, the country possesses additional significant gas fields such as Absheron, Umid, Babek and Nakhchivan, of which Absheron field is projected to be commenced in 2021.