Economy

The Shah Deniz partnership is commencing the define stage of a new project which will allow the Shah Deniz Alpha (SDA) platform to receive its power supply from the Shah Deniz Bravo (SDB) platform through a subsea cable, bp told AZERTAC. The project is designed to significantly reduce SDA’s operational emissions …

Ambassador of the Arab Republic of Egypt Hisham Mohamed Nagy Abdel Hamid has visited Azerbaijan’s Small and Medium Business Development Agency (KOBIA), as he met with the Agency’s Chairman of the Board Orkhan Mammadov. During the meeting, the sides exchanged views on the implementation of joint projects between Azerbaijan and …

Azerbaijan exported 4.3 billion cubic meters of gas to Türkiye in January-June of this year, the Ministry of Energy told AZERTAC. According to the ministry, 23.4 billion cubic meters of natural gas was produced in the country in 6 months of this year. 6.9 bcm of gas production extracted from ACG, …

The European Union is preparing to sign an important memorandum on energy with Azerbaijan on July 18, European Commissioner for Energy Head of Office Stefano Grassi said, Azernews reports, citing AzeMedia. Grassi stressed that the upcoming agreement would be one of the steps planned by Brussels to overcome the gas …

Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov met with Governor of the Astana International Financial Center Kairat Kelimbetov, Trend reports citing the Ministry of Economy. According to the ministry, the sides discussed an enhanced partnership within the Trans-Caspian International Transport Route (TITR), as well as cooperation between the financial …

Some 540m cubic meters of Azerbaijani gas were transported to Greece via the Trans-Adriatic Pipeline (TAP) in the first half of this year, Azernews reports. The remarks were made during a meeting between Azerbaijani Energy Minister Parviz Shahbazov and Greek Environment and Energy Minister Kostas Skrekas. “We discussed our energy …

The revenue of the Azerbaijani State Oil Company for 2021 increased by 56.3 percent and amounted to AZN77.5 billion ($45.5bn), Azernews reports. “As a result of the implemented optimization and technological transformation measures, SOCAR was able to improve its operational efficiency in 2021 significantly. SOCAR’s revenue growth was due to …

Azerbaijan`s Energy Minister Parviz Shahbazov has held a comprehensive meeting with Iran`s Energy Minister Ali Akbar Mehrabian. The sides noted that the heads of states attach special importance to the development of common historical and friendly relations between the two countries. The importance of the recent meeting of the presidents …

Representatives of Azerbaijan’s Export and Investment Promotion Agency (AZPROMO) participated in the 12th International Industrial Exhibition INNOPROM-2022 in Yekaterinburg, Russia, Azernews reports. Within the framework of the exhibition, AZPROMO’s representatives held a number of bilateral meetings. During the meetings, there was an exchange of views on the favorable business and …

The Azerbaijani State Oil Company (SOCAR) and Uzbekneftegaz signed a roadmap to expand cooperation, Azernews reports. The document was signed by SOCAR’s Acting President Rovshan Najaf and Uzbekneftegaz Board Chairman Mekhriddin Abdullayev. “At a meeting with the chairman of the Uzbekneftegaz Board of Directors, Mehriddin Abdullayev, a road map was …