ECONOMY


Azerbaijan’s proven reserves of natural gas estimated at 1.3 trillion cm, OPEC

Baku, June 8, AZERTAC

According to the 53rd edition of the Annual Statistical Bulletin (ASB) of the Organization of the Petroleum Exporting Countries (OPEC), Azerbaijan’s proven natural gas reserves make 1 trillion 277 billion cubic meters.

By the end of 2017, among the Caspian littoral countries Russia’s proven oil reserves totaled 50 trillion 617 billion cubic meters, Iran’s 33 trillion 810 billion cubic meters, Turkmenistan's 9 trillion 838 billion cubic meters and Kazakhstan’s 1 trillion 898 cubic meters.

Russia, with 50.6 trillion cubic meters, has the world`s largest proven natural gas reserves, followed by Iran with 33.8 trillion cubic meters, Qatar with 23 trillion 861 billion cubic meters, Turkmenistan with 9.8 trillion cubic meters and USA with 9 trillion 67 billion cubic meters. Chile stands out as having the least proven gas reserves worldwide with estimated 5 billion cubic meters.

By the end of last year, the total world proven natural gas reserves are estimated at 199 trillion 444 billion cubic meters, of which 48.1 percent—that is, 95 trillion 951 billion cubic meters—belongs to OPEC member countries. The proven natural gas reserves of the Organization for Economic Co-operation and Development (OECD) member countries make 18 trillion 793 billion cubic meters, while former Soviet countries possess proven reserves of 65 trillion 519 billion cubic meters.

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