February 29 a meeting of the Advisory Board of the Southern Gas Corridor started in Baku with the participation of the President of Azerbaijan.
The Council's work also involves the Ministers of Energy of the states of the Southern Gas Corridor, including the Vice-President of the European Commission on Energy Maros Shefkovich, Turkish Energy Minister Berat Albayrak, the special representative of US State Department Amos Hockstein, Special Representative of the UK Energy Edmund Hosker, Secretary of State of Italy Claudio De Vincenti, etc. .
Following the meeting, the Minister of Energy of Azerbaijan Natig Aliyev and the European Commission Vice-President for Energy Maros Shefkovich will make statements for the press.
As expected, the meeting participants will discuss the prospects and practical issues relating to the functioning, security and development of the Southern Gas Corridor.
As expected, it will focus on how to connect Iran and Turkmenistan to the corridor for the purpose of supply of natural gas to Europe. -02D-
Economics
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Azerbaijan’s non-oil and gas exports increased by 0.3% in 2024, reaching $3.4 billion compared to the previous year, driven largely by higher sales of agricultural and food products, according to the latest Export Review by the Center for Analysis of Economic Reforms and Communication.
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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