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Gas exports grow markedly

2 July 2019 12:41 (UTC+04:00)
Gas exports grow markedly

By Mirsaid Ibrahimzade

Azerbaijan, which is an important supplier of natural gas in the Caspian Sea region, particularly to European markets, keeps increasing its gas exports.

In the period from January to May 2019, Azerbaijan exported 4.9 billion cubic meters of gas. This figure is 1.8 times more than in the same period of 2018, according to the Azerbaijani State Customs Committee.

In monetary terms, the export volume amounted to $871.6 million (an increase of 1.7 times).

It is noteworthy that Azerbaijan exported 7.9 billion cubic meters of gas worth 1.5 billion manats ($0.88 billion) in 2018.

Shah Deniz gas field is the largest natural gas field in Azerbaijan. It is situated in the South Caspian Sea, off the coast of Azerbaijan, approximately 70 kilometers (43 mi) southeast of Baku, at a depth of 600 meters. The field covers approximately 860 square kilometers (330 sq mi). Stretching out over 140 square kilometers, the reservoir is similar in size and shape to Manhattan Island.

The Shah Deniz field is operated by BP which has a share of 28.8 percent. Other partners include TPAO - 19 percent, SOCAR - 16.7 percent, Petronas - 15.5 percent, Lukoil - 10 percent and NIOC - 10 percent.

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

Supplies of Azerbaijani gas to Europe are expected in the amount of 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.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

Follow us on Twitter @AzerNewsAz

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