AZERBAIJAN TO DOUBLE GAS PRODUCTION
Azerbaijan expects to double gas production, from an anticipated 5.02 billion cubic meters (bcm) in 2003 to 10.4 bcm as early as 2007, as the Shah-Deniz gas condensate field comes on-stream and production increases at the Azeri-Chirag-Gunashli (ACG) group of fields.
According to government officials ACG would yield 910 million cubic meters in each of 2003 and 2004, rising to 1 billion cu m in 2005. Shah-Deniz, where production begins in 2006, and ACG will produce 3.8 bcm between them in 2006 and 7.2 bcm in 2007. The State Oil Company of the Azerbaijani Republic (SOCAR) expects its gas production fall gradually, from 3.8 bcm in 2004 to 3.2 bcm in 2007.
Domestic gas sales are expected to dip from 3.73 bcm in 2003 to 3.65 bcm in 2004 and 3.54 bcm in 2005, but to shoot up to 4.28 bcm in 2005 and 4.87 bcm in 2007.
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