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FSUOGM NEWS IN BRIEF FSUOGM

liquefied petroleum gas to the domestic well as the profit share of the oil produced European Commission makes this request,
market have been amended, stipulating an by international consortiums operating in the two-month term should be prolonged
expansion of the list of entities authorised Azerbaijan, which belongs to the state and for two more months,” the spokesperson
to buy LPG outside of the electronic SOCAR. Natural gas exports increased by said.
trading platform. Apart from petrochemical 40% to 18.8 bcm. The 55 billion cubic meter Nord Stream 2
enterprises and group reservoir units (for In 2021, SOCAR drilled about 62,000 pipeline was built in September 2021. Both
daily needs) filling stations, gas supply meters, which is 10.3% more than in 2020. threads of the pipe were filled with technical
pipeline networks, gas-filling units and gas and the pipeline is ready for operation.
gas-filling stations received this right," the Its certification by the German Federal
statement said. EC to consult with Ukraine Network Agency was halted in November
because the regulator deemed it necessary
for the operator to create a subsidiary in
SOCAR increased oil on certification of Nord Germany and reapply for certification as
Stream 2
an operator on its behalf as required by the
production by 6.5%, gas by The European Commission (EC) plans to European law.

7% in 2021 consult with Ukraine about certification of
Russia’s Nord Stream 2 natural gas pipeline,
SOCAR produced 7.8mn tonnes of oil in which may extend the process by two Novatek proven
2021, according to the company's press months, a spokesperson for the European hydrocarbon reserves rose
service. Compared to 2020, in which Commission told PRIME on January 22.
the company produced 7.4mn tonnes, it “We can confirm that consultations 0.3% in 2021
means an increase of 6.5% by 2021. This will be held with Ukraine during the
slight increase in oil production is mainly certification process,” the spokesperson said. Novatek said January 25 that it increased its
due to the gradual removal of voluntary According to the law, the EC is to oil and gas reserves by 0.3% during 2021.
restrictions under the OPEC+ agreement. provide its own opinion on the certification The Russian company reported year-
Gas production by SOCAR amounted decision of the German regulator. end proven hydrocarbon reserves of 16.41
to 7.8bcm (an increase of 7%). At the same “Two months after receiving the billion barrels of oil equivalent, including
time, the company produced 2.3mn tonnes request, it should draft its opinion,” the 2.261 trillion cubic meters of gas.
of oil and 1.98bcm of gas in 4Q21. spokesperson said, referring to EC. This was up from 16.37 billion BOE and
In 2021, SOCAR's oil exports to foreign ‘While preparing the opinion, the 2.244 Tcm a year earlier.
markets increased by about 1% to 18.1mn European Commission can ask for opinion
tonnes. This includes the volumes of oil of an agency of an interested country-
produced by the company on its own, as member or interested parties. If the

P12 www. NEWSBASE .com Week 04 26•January•2022