The intergovernmental agreement on the gas pipeline Turkish Stream will be most probably signed at the World Energy Congress, which will be held in Istanbul on 10-12 October, Russian Energy Minister Alexander Novak told the media late last week.
Earlier, he said the text of the intergovernmental agreement on the project should be prepared and agreed by the forum.
“At the moment our specialists are in Turkey to discuss the draft agreement and the road map for the project Turkish Stream. We are tasked to complete them before the Energy Forum in Istanbul,” he said.
The World Energy Congress is to be held in Istanbul from 9 to 13 October, according to the agency Interfax.
“We are discussing the two lines. The objectives and directions of supplies of gas are different,” he added.
It is planned that about a year will be spent on the preparation of the feasibility study of the pipeline. Novak previously predicted that the commissioning of the first line of the gas pipeline Turkish Stream will occur in the second half of 2019. -0--
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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