TODAY.AZ / Business

SOCAR voices significant increase of volume of Azerbaijan’s underground gas storages

06 February 2014 [12:45] - TODAY.AZ
The volume of Azerbaijan's underground gas storages has increased to five billion cubic meters, the head of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev said at a conference held under the chairmanship of President Ilham Aliyev dedicated to the results of implementation of two state programs on the socio-economic development of the country's regions in 2004-2008 and 2009-2013.

"Earlier, the capacity of Azerbaijan's storages allowed us to store some 800 million cubic meters in them. As a result of the carried out works, this figure has increased by eight time and hit five billion cubic meters," Abdullayev said.

There are two underground gas storages in Azerbaijan - Kalmaz and Garadag.

The volume of gas in the underground storages amounted to 3.5 billion cubic meters in 2013, according to the SOCAR head. The daily volume of the gas feed to the system from the underground storages on cold days amounted to 25-26 billion cubic meters which corresponds to the daily volume of gas production at Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea.

Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas.

The partners for the development of Shah Deniz field are: SOCAR with the share of 16.7 percent, the British BP (28.8 percent), Norway's Statoil (15.5 percent), Iran's NICO (10 percent), the French Total (10 percent), Russia's Lukoil (10 percent), Turkish TPAO (nine percent).



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