Economy

The State Oil Company of Azerbaijan Republic (SOCAR)’s subsidiary Heydar Aliyev Oil Refinery has signed two Engineering, Procurement and Construction contracts with Tecnimont S.p.A. and KT-Kinetics Technology S.p.A., the subsidiaries of Maire Tecnimont S.p.A., as a part of the Modernization and Reconstruction of SOCAR Heydar Aliyev Oil Refinery in Baku, …

Azerbaijan and Japan have discussed the development of the green energy concept for the liberated territories. During the meeting held between Azerbaijan’s Energy Ministry and the representatives of Japanese company TEPSCO in videoconference format, the sides discussed the Japanese practice in the establishment of green energy zones and “smart cities”. …

The first China-Azerbaijan container block train of 2021 has departed from China, a source in ADY Container LLC, affiliate of Azerbaijan Railways CJSC told Trend on Feb.1. According to the source, despite the COVID-19 pandemic difficulties in the global supply chain, including the lack of containers, ADY Container was able …

The export of tomatoes from Azerbaijan to Kazakhstan has been resumed, the Azerbaijani Food Safety Agency told Trend on Jan. 29. “The consistent measures towards lifting restrictions on the export of tomatoes from Azerbaijan to the Republic of Kazakhstan are being taken,” the message said. “As a result of negotiations …

The Caspian Policy Center (CPC) has hosted a panel of experts to discuss the significance of the Southern Gas Corridor (SGC) project, future energy infrastructure developments, decarbonization efforts, and regional integration. “The completion of the SGC comes at an interesting time of changing energy markets and increased focus on addressing …

Another project in the format of trilateral cooperation in the field of railway transportation between Azerbaijan, Turkey and Russia has been launched. This time, a container export train is to be transported from Turkey to Russia. The 15-container train headed from Ankara, Turkey to Russia’s Vorsino station in Moscow. The …

On Jan.28, 2020, the Caspian Policy Center (CPC) hosted a panel of experts to discuss the significance of the Southern Gas Corridor (SGC) project, future energy infrastructure developments, decarbonization efforts, and regional integration. “The completion of the SGC comes at an interesting time of changing energy markets and increased focus …

Azerbaijan, which tripled its economy during the last 15 years and aims to double its economy relying on non-oil sector in the next 10 years, is preparing for a new investment wave that depends on the ability to take advantage of the fourth industrial revolution. According to the World Investment …

Azerbaijan was Georgia’s main bitumen supplier in 2020, accounting for 63.8 percent of this country’s total imports of bitumen, Azertag has reported. In 2020, Azerbaijan exported 82,100 tons of oil bitumen to Georgia. Overall, Georgia imported 128,700 tons of oil bitumen in 2020, which is by 24.3 percent or 41,300 …

Azerbaijan increased its trade turnover with Belarus by 37.7 percent, brining the volume to $313.1 million in 2020, the State Customs Committee has reported. Of total turnover, the country’s export to Belarus amounted to $164.9 million, while imports from Belarus to Azerbaijan reached $148.2 million. By comparison, the mutual trade turnover was $227.2 million in …