In 2015 Azerbaijan plans to increase the volume of tank gas up to 20 billion cub.m., reads the article by Ramiz Rzayev, chief of the Investment Department of Azerbaijan Energy Ministry, published in official press.
Rzayev claims that there are possibilities to double this index up to 40 billion cub.m. in 2025.
During 2012 Azerbaijan extracted 17.24 billion cub.m. of tank gas. This year the volume of gas is expected to be 17.5 billion cub.m.
The draft budget, which has been recently submitted to parliament for approval, envisages that in 2014 Azerbaijan plans to extract 27.36 billion cub.m. of tank gas and in 2015 – 27.23 billion cub.m. The government put this volume of gas together with associated gas, part of which is injected back into the oil wells. In 2012 total volume of gas production in Azerbaijan was 26.79 billion cub.m. Considering that, according to the government’s forecasts, in 2015 the country must extract about 18 billion cub.m. of tank gas.
First of all, there are no resources to increase production up to 20 billion cub.m. and secondly, there is no market. Therefore, it is hard to believe the data of representative of the Energy Ministry published in official press.—0—
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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