Albania has invited SOCAR to gasify the country, Albanian Minister of Economy and Energy Damian Giknoori said during the panel discussions at the Caspian Forum III in Istanbul on Thursday.
He said Albania and the entire South Eastern Europe has a perspetive and undeveloped gas market.
Minister said that Albania has been discussing the possibility of laying of the trans-Adriatic gas pipeline on its territory with Montenegro and Croatia.
Caspian Forum III organized by the Caspian Strategic Institute HASEN has gathered high-ranking officials, representatives of the companies and the leading experts from all over the world.
The projects in fields of energy, transport and finance in the Caspian region will be discussed and the possibility of future cooperation studied at the forum.
The TAP will transport gas from the Caspian region to the south of Italy and Western Europe via Greece, Albania and Adruatic Sea. Gas, which will be extracted from the Shah-Deniz Phase 2, is considered as the main source of the project.—0—
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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