The Asian Development Bank (ADB) refused to clarify the timing of the issuance of a loan to Azerbaijan's government for the Shah Deniz-2 gas condensate field development project and the Southern Gas Corridor (SGC) project.
Earlier the timing of consideration of the issue was approved by the Board of Directors, but delayed - last time, from 22 August to 27 September. According to the report on the ADB website, it is a multi-tranche sum of $ 1.505 billion.
But the bank will support the full-scale development of the Shah Deniz-2 field, making an investment plan aimed at improving the government's fiscal position by increasing revenues through the production, processing and export of natural gas, associated with more employment.
According to the plan, the bank will provide a partial credit guarantee to support commercial financing in the amount of 16.67% of the project's value. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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