Annual production of marketable gas in Azerbaijan will reach 40 billion cubic meters in 2025, Nazim Samadzade, first deputy head of the Gas Export Department of SOCAR said at the second day of the SOCAR 2nd International Caspian and Central Asia Downstream Forum - Trading, Logistics, Refining, Petrochemicals.
According to him, proved gas reserves make up 2.5 trillion cubic meters: Shahdeniz reserves make up 1.2 trillion cubic meters of gas and 240 million tonnes of condensate. Production in Shahdeniz Stage 1 started in 2006 and about 10 billion cubic meters of gas is produced. Production which is expected to make up 16 billion cubic meters in Shahdeniz 2 will start in 2018”.
Samadzade added that 800 million cubic meters of Shahdeniz gas are exported to Georgia, 6.6 billion cubic meters to Georgia and 1.5 billion cubic meters are consumed in the country. He noted that volume of gas transported by SOCAR to Georgia makes up 1.2 billion cubic meters in a year.
SOCAR official noted that according to initial estimates, Absheron field’s reserves make up 350 bcm of gas and 45 million tonnes of condensate. Umid field’s reserves are expected to be 200 bcm of gas and 40 million tonnes of condensate.