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ADB: Shahdeniz field to contribute to the growth of Azerbaijan's exports

03 April 2019 16:28 (UTC +04:00)

Within the framework of the second phase of the Shah Deniz gas-condensate field will increase Azerbaijan's exports by 1% starting 2020, ONA reports citing Asia development forecast of Asian Development Bank for 2019.

Despite the increase in gas exports, the fall in oil prices is expected to reduce exports of Azerbaijan by 7,5% in 2019.

“In spite of the increase in gas exports, oil prices will decline by 7.5% in 2019 and the increase in gas production of the Shah Deniz field will lead to a 1% increase in exports in 2020,” the report of ADB stated.

Note that ADB has predicted that the economy of Azerbaijan will increase by 2,5 % in 2019 and in 2020 it will increase by 2,7 % as a result of the acceleration of gas production in the Shah Deniz 2.