39 documents are planned to be signed as part of making of a final investment decision on the Shah-Deniz Phase 2, which is expected on December 17, 2013, SOCAR President Rovnag Abdullayev told journalists on Tuesday.
He said specialists of the companies-partners have been preparing the required documents.
Cost of the Shah-Deniz-2 is estimated at $25 billion, reads the BP (technical operator) report about three quarter results. It is planned to extract the first gas from Shah-Deniz-2 in 2018.
It is planned to extract 16 billion cub.m. of gas during the field development, of which 6 billion cub.m. will be transported to Turkey and 10 billion cub.m. to Europe. About 360 billion cub.m. of gas is planned to be extracted during the entire period of the Shah-Deniz-2 development. The similar showing for the Shah-Deniz-1 is 178 billion cub.m.
The partners of the project are BP (operator) – 25,5%, Statoil – 25.5%, SOCAR – 10%, NICO – 10%, Total – 10%, LUKoil - 10 % and TPAO – 9%. The contract expires in October 2036.—0—
Economics
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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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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