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Fitch: Azerbaijan’s natural gas reserves to last for 120 years

16 February 2021 10:35 (UTC +04:00)

Taking into account the level of natural gas production at the beginning of 2020, Azerbaijan’s natural gas reserves will be enough for the country nearly 120 years, according to the calculations of Fitch Ratings and BP, APA-Economics reports.

The international agency says that according to the indicator, Azerbaijan is one of leading countries of the world and comes after just Qatar. According to the Fitch, volume of gas reserves of the country made up 0.8% of global reserves in 2019. Taking into consideration production, Kazakhstan is also about at the same level with Azerbaijan for its gas reserves.

Remind that 35,6 bln c/m gas was produced in Azerbaijan in 2019, while 36,7 bln. c/m in 2020.