Economy

Baku and Tokyo have discussed the development of the renewable energy sector in Azerbaijan, Azernews reports. The discussion took place during a meeting between Azerbaijani Energy Minister Parviz Shahbazov and a delegation led by TEPSCO’s Executive Director Chikara Kojima with Japanese Ambassador Junichi Wada in presence. During the meeting, the …

The State Oil Company of Azerbaijan Republic (SOCAR) is going to conduct oil exploration activities in Batman, Turkiye, Yeni Shafak newspaper reports. The exploration will be carried out under a deal agreed at the Petroleum Reserve Summit in Istanbul, which marks a major step forward for Turkish-Azerbaijani cooperation in the …

Manager at South Korea’s Hyundai Engineering & Construction Co.Ltd. HanGyu Jang has today visited the Export and Investment Promotion Agency (AZPROMO). During the meeting, HanGyu Jang was informed of favorable investment environment and opportunities created, as well as investment projects implemented in Azerbaijan. The sides exchanged views on the possibilities …

Azerbaijan and Kazakhstan will lay internet cables along the Caspian Sea bed, Azernews reports, citing the Kazakh media. According to the agreement between the governments of the two countries, it is planned to build fiber-optic communication lines along the Caspian Sea bed. Operators-participants will invest their own funds in the construction …

Cooperation with Azerbaijan may help Italy become an energy hub, Domenico Letizia, Italian analyst on economy and geopolitics, told Trend. “Azerbaijan has proved itself as a friendly and loyal country to Italy. Amid the ongoing complicated geopolitical situation Azerbaijani gas supplies help alleviate Italy’s energy problems. I believe that cooperation with …

Bulgaria will receive about 440 million cubic meters of gas from Azerbaijan in July-December 2022, Azerbaijani Ambassador to Bulgaria Huseyn Huseynov said in an interview with fakti.bg, Azernews reports. He recalled that there is a signed contract for the annual supply of 1 billion cubic meters of natural gas to Bulgaria …

Azerbaijan and Uzbekistan have discussed possibilities of increasing trade turnover and joint exports of goods to other countries, Azernews reports. The discussion took place during the meeting between Azerbaijan’s Deputy Economy Minister Sahib Mammadov with Uzbekistan’s First Deputy Energy Minister Azim Akhmedkhadzhayev. During the meeting, the parties stressed that great …

Azerbaijan and Uzbekistan have signed a roadmap on the expansion of cooperation in the energy sector, Energy Minister Parviz Shahbazov said, Azernews reports. The minister stated that the liberated areas and green energy are priority directions of multidimensional cooperation between the two countries. “Today, we signed the #RoadMap on the …

After modeling the pricing formula in the present contract with Gazprom Export, it is clear that Russian gas is second in terms of affordability after Azerbaijani gas, Bulgarian Energy Minister Rosen Hristov told a working meeting where the progress of the Interconnector Greece-Bulgaria (IGB) was being looked into, Azernews reports. …

Georgian Interior Minister Vakhtang Gomelauri thanked Azerbaijan and Türkiye for helping in fire extinguishing in Borjomi. According to him, the localization of the fire depends on weather conditions. “Today, three aircraft have been added to aviation. I want to thank the Turkish side, our friends, for this. Helicopters have been …