Yesterday SOCAR and Romanian Transgaz signed a mutual memorandum, reported State Oil Company of Azerbaijan (SOCAR).
The document envisages cooperation between the companies in field of gas transportation and gas transit using Romania’s capacities.
The memorandum also envisages the possibilities of export LNG and natural gas to the Romanian market and its sale it on the basis of long-term or spot contracts, including the potential LNG terminals within the framework of AGRI project.
It has been mentioned during the signing ceremony that the memorandum will open the possibility for deepening cooperation between SOCAR and Transgaz and expand operations on the natural gas market of southeastern Europe and the Balkan region.
“The memorandum will also contribute to expansion of cooperation between the countries in field of energy, in particular, gas supply, transportation, marketing and sales,” said the same source.—0—
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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