Economy

Fuad Ibrahimov has assumed the duties of the head of Natural Gas Business Unit of SOCAR Turkey as of January 1, 2022, Trend reports with reference to Turkish media. Reportedly, Fuad Ibrahimov will be responsible for the management of Bursagaz, Kayserigaz and SOCAR Enerji Ticaret companies operating under the unit. Natural Gas …

Azerbaijan’s export of non-oil products and gas may increase in the medium term, Deputy Head of the Market Research Department at the Russian Gazprombank Gulnara Khaidarshina told Trend. Khaidarshina added that the growth must reach $1.2 billion over four years to achieve $3.6 billion in 2025. “It is easy to achieve …

The Azerbaijan Trade Department has been opened in G-Hub shopping center which has been recently established in Wuhan, Hubei province of China, Trend reports referring to the Azerbaijani Ministry of Economy. According to the message, the Trade Department will sell the food products which are produced in Azerbaijan under the “Made in …

So far, the feasibility study, cost-benefit analysis, environmental and social impact assessment and final project design is prepared for the gas interconnection between North Macedonia and Greece, which will ensure access to Azerbaijani gas, North Macedonian Economy Ministry told Trend. Market test is ongoing on the Greek side prior issuing the …

Georgia’s total trade turnover with Azerbaijan from January through November 2021 amounted to $997.2 million – a 7.8 percent share of the total foreign trade turnover, Trend reports via National Statistics Office (Geostat). The current figure increased by 19.9 percent, compared to $831.3 million over the reporting period of 2020. According to …

The 1st Azerbaijan-Turkey Energy Forum has been held in Baku. The Forum was co-chaired by Azerbaijani Energy Minister Parviz Shahbazov and Turkish Minister of Energy and Natural Resources Fatih Donmez. The two-day forum was organized within the framework of the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Turkey …

BP has started drilling the second Shallow Water Absheron Peninsula (SWAP) exploration well. “BP as operator of the Shallow Water Absheron Peninsula advises that the Satti jack-up rig has moved to the Bibi-Heybat prospective area to commence the drilling of the second SWAP exploration well- BHEX01. This follows the abandoning …

Azerbaijani and Russian experts have discussed the development of bilateral future ties in a wide range of spheres, Trend reported on December 20. The discussions took place as part of an international roundtable “Russia-Azerbaijan in a new system of regional security and economic cooperation. Results of the year and prospects”. The roundtable …

Azerbaijan’s State Oil Company (SOCAR) President Rovnag Abdullayev has said that a big filling station is under construction in liberated Shusha city, Trend has reported. Abdullayev noted that the country is building filling stations in Aghdam and Fuzuli regions as well. He added that the first filling station has been built in …

Azerbaijan and Kyrgyzstan will sign a strategic partnership declaration in 2022, Kyrgyz Ambassador Kairat Osmonaliyev told Trend. According to Osmonaliyev, relations between the two countries are reaching a higher level of strategic partnership. “Besides, from 2022 it’s planned to intensify cooperation in all areas, such as education and transport sectors, preparation …