Economics
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Azerbaijan witnessed a significant growth in investments during the first half of 2024, reflecting the government's efforts to avoid economic downturns similar to those seen in 2009 and 2016. The government is taking proactive measures to ensure that investment growth and economic stability are synchronized, with a particular focus on strategic sectors.
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Following the recent agreement to expand the strategic partnership between Gazprom and Azerbaijan's state oil company SOCAR, Azerbaijan has faced mounting protests and backlash from several quarters, economist Gubad Ibadoglu said in an article. Pro-Russian media in Azerbaijan swiftly published articles criticizing Ukraine after Ukrainian consumers launched a campaign to boycott SOCAR's fuel stations. The boycott is seen as a response to Azerbaijan's growing ties with Russia, which has been in conflict with Ukraine since the 2014 annexation of Crimea and the subsequent war in eastern Ukraine.
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Azerbaijan's Ministry of Energy held a high-level meeting with a delegation from the German energy company Uniper on August 28, discussing a range of topics including gas supply, energy security, and renewable energy opportunities.
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Rovshan Najaf, President of the State Oil Company of the Republic of Azerbaijan (SOCAR), and Karsten Popping, Chief Commercial Officer of Uniper SE, met to discuss ways to deepen their strategic partnership. The meeting covered a wide range of energy-related topics, including the successful execution of their existing agreement on natural gas from the Shah Deniz field and potential expansion in gas supply cooperation.
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