GECF expects more gas output in coming years

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    More gas production is expected in the coming years, said head of Gas Market Analysis Department of the Gas Exporting Countries Forum (GECF) Mahdjouba Belaifa.

    She made the remarks during the 24th Caspian International Oil and Gas Conference in Baku June 1.
    Belaifa pointed out that more gas output is forecasted due to: more calls on gas in power generation, new LNG projects, new gas pipelines coming to reinforce the supply on the market, such as TurkStream, Nord Stream 2 and a larger penetration of Azerbaijani gas to Europe thanks to Shah Deniz 2 project that will bring to the market more than 16 billion cubic meters in the short term and more than 30 billion cubic meters by 2030.

    This is while natural gas demand is the biggest uncertainty, she added.
    “For 2017, while some signals of growth of gas demand are given by the market, lots of uncertainties are shaping its pace to growth,” said Belaifa.

    She pointed out that these uncertainties need to be addressed by policy makers to put in place the adequate regulatory systems and energy policies to allow expansion of natural gas usage and increase its share in the energy mix.