By 2025 tank gas production in Azerbaijan will reach 40 billion cub.m., SOCAR President Rovnag Abdullayev said at the international conference “New Technologies in Oil and Gas Production” in Baku.
According to the forecasts, by 2015 tank gas production in Azerbaijan will reach 20 billion cub.m.
For three years running Azerbaijan produced 16.3-16.8 billion cub.m. of gas a year. By 2020 the country will hardly produce 20 billion cub.m. of gas, because of the problems with gas sales at the local and foreign markets. New markets are not expected by this time.
SOCAR specialists earlier forecasted that by 2025 the country will produce 50 billion cub.m. of gas a year. It seems like development of some gas fields, which have been recently discovered, is delayed or the pace of production growth will be limited, as it happened with the oil on ACG project. This is also, possibly, connected with problems with gas sales at the European markets (by that time part of the European market will be supplied with US slate gas and liquefied gas from Qatar and Africa).—0--
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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