The Economist: Azerbaijan is among main sources of gas production growth

15:22 - 19.02.2024


February 19, Fineko/abc.az. Oil and gas production, supported by high prices, will continue to grow.

ABC.AZ reports with reference to The Economist’s special issue of Energy Outlook 2024.

High commodity prices and EU’s efforts to replace Russia's energy supply continue to attract new investments in fossil fuel production in 2024.

The report notes that global natural gas production is expected to grow by 2.2% year-on-year.

"The main sources of production growth will be North America, Norway, the Middle East, North Africa, Azerbaijan, Turkmenistan, China, Australia and Mozambique."

The publication notes that exports of liquefied natural gas to the U.S. will grow in the coming years as export opportunities expand. This will support the growth of domestic production, which, according to their forecasts, will grow by 1.9% in 2024.

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