On June 28, 2013 the Shah-Deniz consortium has selected the trans-Adriatic pipeline (TAP) route and on July 1, 2013 EU released statement of the European Energy Commissar Gunter Oettinger saying that “the Nabucco West still remains urgent.” Oettinger pins hopes on development of fields on the Caspian shelf in the future.
Almost the same viewpoint was expressed at the ceremony of announcement of the route in Baku by Gordon Birrell, BP-Azerbaijan President, on Friday. He claimed that Azerbaijan has perspective gas fields and as soon as they discovered the both pipelines will be claimed. He also meant the Nabucco-West.
Two questions arise here: why is BP-Azerbaijan President so sure that several big gas fields will be discovered and the second export route will be needed for transportation of their resources? And the second question what calculations the fact that the Nabucco-West must become a commercially attractive project in 10 years is based on?
By 2023-2025 there will be new infrastructure projects in Europe, including delivery of liquefied gases from North America, different parts of Africa, Near East and, possibly, pipelines from the Mediterranean Sea.
If the pipeline project has not been implemented now with the lobbying of the West, how it can still be urgent when competition will increase by ten times.
From the logical viewpoint, Nabucco project and also its shorter version Nabucco-West remained political projects.
In this context position of BP company is unclear: why did it decide to support political projects? Al Cook, Vice President of BP for Shah-Deniz, said clearly that “there was a big difference in the price of gas and its transportation between TAP and Nabucco West.—0—
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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