Economy

Azerbaijan and Latvia have discussed directions for the expansion of non-oil Azerbaijani exports, Azernews reports. According to the Ministry of Economy of Azerbaijan, Deputy Minister Sahib Mammadov met with Deputy Minister of Agriculture of the Republic of Latvia, Normunds Shmits. At the meeting, the role of mutual visits and high-level meetings in …

In mid-February, gas reserves in underground gas storages in Europe reached a record high of 73.4 bln m³, Azernews reports citing Gas Infrastructure Europe. Currently, Europe’s gas storages are 66.58 percent full. This is 15.38 percent more than the average for the same period of the last five years. On February 12, …

Turkmenistan and Iran discussed the development of transport links between the countries of the region, including those passing through Azerbaijan, Azernews reports. The Turkmen delegation participated in the “Iranian Maritime Economy” forum (Turkmendenizderyayollary), during which issues of developing international trade and transport links between the countries of the region were discussed, according …

Group of expert evaluators of the Global Forum on Transparency and Exchange of Information for Tax Purposes has visited Baku within the framework of a new stage of assessment, Azernews reports, citing the State Tax Service under the Ministry of Economy. By becoming a member of the Global Forum on Transparency and …

Investment incentive documents were presented to 3 entrepreneurs in “Baku SME House”. The projects that received the investment incentive document will be implemented in Gusar, Imishli, and Samukh districts, as well as in the field of food production, Azernews reports. As a result of the realisation of three projects that received investment …

Italy has recorded a significant increase in spending on natural gas imports from Azerbaijan, reaching 619.2 million euros in November 2023, compared to 364.2 million euros in October, according to Eurostat, the European Union’s statistical office, Azernews reports. This notable surge represents a month-on-month growth of over 70 percent. This is while …

A seismic survey program will be conducted with new 4-dimensional (4D) high-precision subsea nodes in the Azeri-Chirag-Deep-Gunashli (ACG) field, Azernews was informed about this by bp-Azerbaijan, the operator of the ACG field development project. It was reported that, in terms of the area to be covered by the study, the total cost, …

Europe’s demand for Azerbaijani gas remains unchanged on the agenda. The harsh and cold winter has caused an increase in gas import costs not only in Northern and Eastern Europe but even in Southern Europe. Meanwhile, Greece is of special importance. Note that in November 2023, Greece increased spending on …

Director of the Azerbaijan Renewable Energy Agency (AREA) under the Ministry of Energy Javid Abdullayev has held an online presentation on “Opportunities in the Renewable Energy Sector of Azerbaijan” for the Ministry of Energy Transition and Public Utilities of Malaysia, Azernews reports, referring to the Azerbaijani Energy Ministry. Javid Abdullayev highlighted the …

The Azerbaijani government at the World Economic Forum in Davos, Switzerland, gave an outline of its activity as a host of COP29. Azerbaijani Economy Minister Mikail Jabbarov wrote about it on his X social page, Azernews reports. “At the session “Informal Meeting of World Economic Leaders: Towards 2030” held within the framework …