Aleksei Miller: Gas from Turkish Stream to reach to Europe earlier than TANAP gas
Gasprom has various options of the points of gas delivery from the Turkish Stream – not only on the Greek border, said Gasprom President Aleksei Miller. The company will consider all proposals on involvement in continuation of the gas pipeline in Europe.
He said Gasprom sees the opportunity to use the experience of TANAP project for the gas deliveries via the Turkish Stream. Miller added that gas from the Turkish Stream will reach Europe earlier, than TANAP gas.
He also added that Austrian OMV is interested in joining the project. Gasprom does not see the risks of participation of VEB Capital in the project for continuation of the Turkish Stream on the territory of Greece, Miller said.
Gas from the Turkish Stream could be pumped not only to the Austrian Baumgarten, but also to Italy, said Russian company’s President.
TACC reported that the trans-Adriatic gas pipeline (TAP) and trans-Anadolu gas pipeline (TANAP), which are a part of the Southern Gas Corridor, could be competitors of the Turkish Stream gas pipeline. This is the EU energy initiative, which is aimed “at improving safety and diversification of the European energy supplies.” TANAP, which will pass through Turkey, will act as the intermediate link for the TAP project, which must be extended to the south of Italy. Using these two gas pipelines European Union hopes to get an access to the gas resources of the Caspian Sea.—0-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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