GECF: Azerbaijan - 3rd biggest natural gas producer in Eurasian region

Azerbaijan can produce an average of 40 billion cubic meters of natural gas per year by 2050, Report informs, referring to the Global Gas Outlook 2050 report of the Gas Exporting Countries Forum (GECF).

According to this indicator, the document says that Azerbaijan ranks third in the Eurasian region after Russia and Turkmenistan: "Most of the natural gas production falls on the Shah Deniz and Absheron fields. They are located in offshore zones in the Caspian Sea."

In 2019, the volume of gas exports from the Eurasian region amounted to 920 billion cubic meters, which is 23 percent of the supply on the world market. In terms of gas exports, this region ranks second in the world after North America. Some 78 percent of all gas exports by the area are provided by Russia, 9 percent - Turkmenistan, 6 percent - Kazakhstan.

By 2050, gas production in the Eurasian region will reach 1.3 trillion cubic meters, of which 78 percent will come from Russia and 17 percent from Turkmenistan, the document says.