Azerbaijan’s Gas Production Hits New Record

Azerbaijan’s gas production hit a new record due to increased output from Stage 1 of the Shah Deniz gas field.

2014 saw 29.418 bcm of gas (+0.7%) of gas extracted in Azerbaijan with marketable gas production amounting to 18.728 bcm (+4.9%).

British Petroleum (BP) Azerbaijan Co. reported today that gas production from Shah Deniz Stage 1 increased to its highest level since the field became operational in 2006, with opportunity for further growth.

According to BP Azerbaijan report, during 2014 some 9.9 billion cubic meters of gas (bcm) and 2.3 million tons of gas condensate were produced from Shah Deniz Stage 1. Comparative figures for 2012 and 2013 were 7.73 bcm and 9.8 bcm of natural gas, respectively.

The report says that optimization of the equipment would permit output to surpass 10.7 bcm in 2015.

From its inauguration in November 2006, the first stage of the Shah Deniz project has produced a total of 57.2 bcm of gas. Shah Deniz is estimated to contain 1.2-1.5 trillion cubic metres of gas.

Shareholders of Shah Deniz are BP (operator - 28.8%), TPAO (19%), Petronas (15,5%), SOCAR (16,7%), LUKoil (10%) and NICO (10%).