15:22 - 12.02.2025

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February 12, Fineko/abc.az. Gas production in Azerbaijan has increased significantly in recent years. We predict that production will peak this year or next year.

ABC.AZ informs that Erich Arispe, senior director in Fitch Ratings and Head of Emerging Europe Sovereign Ratings Group, said about this.

He noted that there has been a continuous decline in oil production in recent years, and this trend has intensified in 2022-2023.

Fitch predicts that with the start of new production in 2024, in particular, the Central East Azeri project in 2025-2028, the rate of decline will stabilize at the level of 2-3% per year.

"The further growth of the gas sector largely depends on the expansion of export opportunities to the EU. For this, it is important to conclude long-term contracts, which are one of the main conditions for the development of new gas fields, increasing production capacity and expanding transport infrastructure,"  Arispe added.