Name: Azerbaijan's tightening gas balance
Brand: Wood Mackenzie
SKU: 49027
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Author: Wood Mackenzie

Insight 07 September 2016

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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Azerbaijan’s flagship US$40 billion Southern Gas Corridor development is on schedule and on budget for first gas by end-2018. It will fulfil the country’s strategic ambition of delivering Shah Deniz Phase Two gas beyond Turkey and into Europe. However, it will be dedicated to export markets, with no domestic sales. This comes at a time when a supply shortfall is expected in Azerbaijan. The country has been a net gas exporter since 2007, mainly to Turkey, but has recently discussed Russian imports for the first time in a decade. Domestic demand pressures do not threaten the outlook for Shah Deniz Phase Two. But, supply from pre-FID offshore developments is needed to avoid a longer-term shortfall. </div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Executive summary
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<li class="list__item-toggle font-semibold">
        Azerbaijan’s domestic gas market is increasingly tight
    </li>

<li class="list__item-toggle font-semibold">
        Oil recovery will be prioritised over gas sales
    </li>

<li class="list__item-toggle font-semibold">
        Export-focused Shah Deniz Phase Two is on schedule
    </li>

<li class="list__item-toggle font-semibold">
        Limited near-term supply available for expanding domestic market
    </li>

<li class="list__item-toggle font-semibold">
        Domestic market must be incentivised for pre-FID projects
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<li class="list__item-toggle font-semibold">
        Near-term gas imports will be substituted by new sources of supply in 2020s
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<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">2015-16: Azerbaijan – key gas sector developments</li><li class="list__item push-quarter--bottom">2015 energy demand by fuel</li><li class="list__item push-quarter--bottom">Gas demand by sector (2010-30)</li>
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        <ul class="list list--bullets panel-toggle" id="353136fc6c644abbaf6d143869e56896">
            <li class="list__item push-quarter--bottom">Gas supply-demand balance (2015-30), excluding pre-FID projects</li><li class="list__item push-quarter--bottom">Potential post-2020 supply shortfall</li><li class="list__item push-quarter--bottom">New post-2020 sources of supply</li><li class="list__item push-quarter--bottom">Absheron: comparison of delivered costs (US$/mmbtu)</li>
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<p class="font-regular" >Azerbaijan's tightening gas balance</p>
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