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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A high-level event titled “Trio of COP Presidencies Dialogue: Roadmap for Mission 1.5 towards a Future of Shared Prosperity” was held within the framework of the 29th session of the United Nations Climate Change Conference (COP29).
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The State Oil Company of the Azerbaijan Republic (SOCAR) and Slovakia's largest gas operator, Slovenský Plynárenský Priemysel (SPP), have signed a short-term pilot contract for the supply of natural gas, according to sources in Slovakia.
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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