From January to March 2016 Azerbaijan extracted 7.5 bcm of gas, said Azerbaijani Energy Minister Natig Aliyev at the enlarged session of the Cabinet of Ministers devoted to the socio-economic development of the country in quarter 1, 2016 on Saturday.
Minister added that the extracted volume was 197 mcm above the forecast.
According to the Azerbaijan State Statistical Committee, in quarter 1, 2015 the country extracted 7,323,600,000 cub.m. of gas. Thus, in quarter 1, 2016 gas production was up 2.4% against the same period last year.
The government forecasts that this year gas production in Azerbaijan will be over 29 bcm, while tank gas production will be slightly over 19 bcm.—0—
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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