By Zarina Jannat for Dispatch News Desk News Agency
Baku, Azerbaijan: The oil and gas producing country of Caspian Sea— Azerbaijan has earned $1.156 billion during January to November 2017 as oil and gas export revenue.
According to official data released by the oil and gas authorities, Azerbaijan exported 6.894 billion cubic meters of natural gas and earned $1.156 billion in January-November of this year. Natural gas exports recorded an increase by 11.5 percent comparing to January –November 2016 period.
It may be mentioned that Azerbaijan is diversifying its export base and natural gas accounted for 9.25 percent of total exports for 11 months of the year while there was heavy dependence of country over oil and gas sector to earn revenue.
Azerbaijan is pursuing multi-dimensional supply policy to enhance its oil and gas export volumes. According to official report, Azerbaijan is exporting oil products to Afghanistan, Bahamas, China, Egypt, Georgia, Greece, Italy, Lebanon, Malta, Libya, Singapore, Spain, Romania, Tajikistan, Turkey, Ukraine and Uzbekistan.
“By opening new different gas and oil supply routes allows Azerbaijan to expand fuel sales volumes in various directions. Diversification of gas and oil supplies is part of the state energy policy of the country”, said Sara Israfilbayova who reports on Oil and Gas industry.
Azerbaijan is one of the richest countries in the region of Caspian Sea having huge oil and gas deposits and operational oil and gas fields including “Azeri-Chirag-Gunashli” and Shah Deniz gas condensate field.