Azerbaijani gas price rises

Azerbaijani gas price rises
Azerbaijani gas price rises

As Azerbaijani media outlets report, the self-value of 1,000 cubic meters of Azerbaijani gas has become 61,89 manats or 34.43 USD.

Following the data of the Azerbaijani State Oil Company SOCAR, the natural gas self-cost increased by 7.4% in 2019 compared to 2018.

As the SOCAR annual report reads, the company expenses (gas procession, storage, and transportation) equaled 140.46 manats or 82.13 USD per every 1,000 cubic meters of sold gas.

The company says the gas self-value increase was led by increased material expenses, salaries, power taxes, security, and safety fees.

As the report reads, the expenses for the materials and components increased by 702,000 manats (5,3%), salaries – by 4,634,000 manats (15,5%), preservation of critical materials – 949,000 manats (6,5%), and others.

Following the report, the share of the material expenses is 4,4%, salaries – 10,9%, social insurance installments – 2,8%, renovation – 4,9%, and others.

The cost of 1,000 cubic meters of natural gas increased by 2,19 manat (7,5%) compared to 2018.

Under the 2020 natural gas balance, approved by Georgia's Economic Ministry, Azerbaijan will provide Georgia with two bln 385.221 mln m3 of natural gas in 2020.

SOCAR will supply one bln 511.417 mln m3 of gas, while Shah-Deniz will provide 873.804 mln m3.

The share of Azerbaijan's gas exceeds 93%, while Georgia receives 3 – 5 % of Gazprom's gas.

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