BP increases estimates of Azerbaijan’s gas reserves

17 June 2020 17:30 (UTC+04:00)

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By Ayya Lmahamad

BP has increased its estimates of Azerbaijan’s confirmed gas reserves for the end of 2019 in its recent statistical review of world energy reports.

According to the report, at the end of 2019, confirmed gas reserves in Azerbaijan amounted to 2.8 trillion cubic meters, which is 33.3 percent more than at the end of 2018.

It should be noted that, at the end of 2018, Azerbaijan’s gas reserves were estimated at 2.1 trillion cubic meters.

Thus, the annual growth of gas reserves amounted to 0.7 trillion cubic meters or 33.3 percent.

Moreover, according to BP estimates, at the end of 2019, Azerbaijan amounted to 1.4 percent of the world’s confirmed 198.8 trillion cubic meters of gas reserves.

The countries with the largest gas reserves in the world remain Russia (38 trillion cubic meters), Iran (32 trillion cubic meters) and Qatar (24.7 trillion cubic meters).

BP started its operations in Azerbaijan in June 1992. The company participates in a number of oil and gas projects in Azerbaijan, like, Azeri- Chirag- Guneshli, Shah Deniz, Baku- Tbilisi- Ceyhan and South Caucasus Pipeline.