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Azerbaijan ahead of some European countries for gas storage capacity

Oil & gas continue to dominate Azerbaijan’s economy and provide most of its export and government revenue

Azerbaijan ahead of some European countries for gas storage capacity

Baku, March 7 - Neftegaz.RU. Azerbaijan now has more gas storage capacity than several European countries, the State Oil Company (SOCAR) has said on its official Facebook page, Azernews has reported.

The company stated that in a time of rapid growth in global natural gas demand, the strategic importance of underground gas storage facilities (UGS) becomes relevant once again.

The company said:
  • SOCAR owns 2 UGS facilities, Galmaz and Garadagh, with a total capacity of 3.5 billion m3
  • The work is currently underway to expand Azerbaijan's UGS facilities to 5 billion m3
According to the company, Azerbaijan's annual gas consumption is 13 billion m3, and the country's available gas storage facilities are sufficient to meet approximately 30 % of domestic demand.

It was earlier reported that Azerbaijan increased gas transportation by approximately 12.9 % in January 2022.
About 2 billion m3 of gas were sold abroad.

Turkey received 0.8 billion cubic meters, Europe received 0.8 billion m3 and Georgia received 0.4 billion m3.
Furthermore, over 0.5 billion m3 were exported to Turkey via TANAP.

In addition, gas output totaled 4.1 billion m3.
1.2 billion cubic meters were extracted from the Azeri-Chirag-Guneshli field block, while 2.2 billion m3 were extracted from Shah Deniz.
During this time, SOCAR produced 0.7 billion m3 of gas.

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