Last week Azerbaijani Energy Minister Natig Aliyev said while receiving US Ambassado to Azerbaijan Robert Sekuta that construction of Trans Adriatic pipeline (TAP) is scheduled for March 2016.
Several days later at the session of the Coordination Council of the Southern Gas Corridor (SGC) on February 29, 2016 Azerbaijani Minister said that the issues of the TAP funding will be solved in April 2016. He added later: “It will happen on April 28.” But he did not specify what is going to happen on that day.
Minister said that crisis at the world market does not create problems for the projects. “We do not have problems with funding of the Shah Deniz-2 project and SOCAR’s share in the projects. Our partners also have no difficulties.”
“SOCAR has shares both in TANAP and TAP. Major part of TANAP funding has been already settled. Whatever is happening at the market, the projects will be implemented,” Aliyev said.
RIA Novosti reported quoting Yan Bradshow, TAP Managing Director, said that TAP construction will begin in mid-2016 in the Greek city of Saloniki. He added that construction of TAP, which is a part of the SGC, will begin approximately at the end of May- early June 2016. “As far as access is concerned, Greece has created required conditions to begin the project,” he added.—0—
Economics
-
Azerbaijan's government has allocated a total of 4.83 billion manat ($2.8 billion) from the state budget in 2024 for the reconstruction and restoration of territories liberated from occupation, the Ministry of Finance announced.
-
President Ilham Aliyev of Azerbaijan convened a meeting on January 28 to discuss the development of the country's transportation infrastructure, focusing on the challenges facing the capital city Baku and its surrounding areas. Despite significant advancements in infrastructure over the past years, Aliyev acknowledged that traffic congestion remains a growing issue due to the rapid increase in the city’s population.
-
Azerbaijan concluded 2024 with state budget revenues of 37.16 billion manats, exceeding forecasts by 2.1% and reflecting a 5.5% increase compared to 2023. Budget expenditures amounted to 37.72 billion manats, resulting in a manageable deficit of 555.5 million manats. Despite the deficit, the government demonstrated fiscal resilience and strategic allocation of resources, supported by higher-than-expected non-oil revenues and prudent expenditure control.
-
According to data released by the Ministry of Finance on Monday, Azerbaijan’s external public debt as of January 1, 2025, stood at $5.16 billion, accounting for 6.9% of the country’s GDP for 2024.
Leave a review