The Southern Gas Corridor is planning to expand
On February 29 in Baku a Joint Declaration was signed after a meeting of the Advisory Board of the "Southern Gas Corridor". The document was signed by 12 ministers who took part in the meeting, including the Vice-President of the European Commission for Energy Maroš Shevchovich. The signatories called for the coordination of actions to accelerate implementation of the project "Southern Gas Corridor" and the expansion the project beyond the EU, including the Balkans. o address issues related to the attraction of new suppliers or transit countries, it is suggested to continue consultations on a bilateral and multilateral level. -02D-
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- 29 February 2016 17:16
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- 29 February 2016 18:08
Economics
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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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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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