Government of Azerbaijan Forecasts Growth of Gas Production by 4.9% in 2018

Growth in gas production is expected in Azerbaijan next year for the first time since 2015.

The government of Azerbaijan predicts for 2018 that gas production will be 30,498.3 mcm, which is 4.9% higher than in 2017. This is noted in the materials of the draft state budget of Azerbaijan for 2018, which the government submitted for approval to the country’s parliament.

According to forecasts, gas production in the republic in 2017 will be 29,060 mcm, which is 0.9% lower than in 2016.

The government forecasts oil production at 37,534,800 tons for the next year, which is 2.2% lower than in 2017. The government expects that 38,372,700 tons will be produced in 2017, which is 6.5% lower than in 2016.

In 2016, oil production in Azerbaijan amounted to 41,050,400 tons, and gas production was 29,331.4 mcm.