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Marketable gas reserves in Azerbaijan up 5% in 2017

Marketable gas reserves in Azerbaijan up 5% in 2017

Last year, marketable gas reserves in Azerbaijan totaled 22 bln cubic meters.

Report informs referring to the State Statistical Committee (SSC), during year 82.6% of the reserves accounted for extraction, while 7,8% for reserves to the beginning of year, and 9.6% for imports.

The volume of marketable gas reserves in Azerbaijan in 2017 was 4.76% more than in 2016.

Thus, gas production in the reporting period amounted to 18,172 bln cubic meters, the volume of reserves formed in the beginning of year made 1.716 billion cubic meters, and imports amounted to 2.112 bln cubic meters.

45.8% of reserves, or 10,076 bln cubic meters were consumed throughout the country. Domestic consumption was 3.26% less than in previous year.

Last year, 40.3% of total reserves or $ 8.866 bln cubic meters considered for exports. Exports in 2017 was 9.9% more than in 2016.

Gas loss was 3.5% or 770 million cubic meters last year. 10.4% or 2.288 bln cubic meters remained in reserves as of January 1, 2018.

Last year, gas loss declined by 3.5%. The residual reserve at the beginning of 2017 was 33% more than the same period in 2016.