Turkish Stream will not affect implementation of the trans-Anadolu (TANAP) pipeline, Richard Morningstar, former US Ambassador to Azerbaijan, said in his interview to the Turkish Anadolu news agency.
He said Turkey and Azerbaijan have established good relationships and Ankara will not allow the Turkish Stream competing with TANAP.
Morningstar also added that involvement of some Turkish companies in TANAP construction shows level of bilateral relationships between Turkey and Azerbaijan.
“I will be really surprised if with implementation of the Turkish Stream Turkey will reduce chances of TANAP,” he added.
The contractors of construction of the 1337-km-long ground section of TANAP include three companies – Fernas Insaat A.S., Sicim Yuksel AKKORD Adi Ortakligi and Tekfen Insaat ve Tesisat A.S. They will build the gas pipeline section up to Eskishekher city.
TANAP project envisages export of gas extracted on the Azerbaijani Shah Deniz field from the Georgian-Turkish border to the western border of Turkey.
The initial carrying capacity of 1841-km-long TANAP will be 16 billion cub.m. of gas a year. Of this volume 6 billion cub.m. will be delivered to Turkey and the remaining volume to Europe.—0—
Economics
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In the first ten months of 2024, Baku's trade turnover registered a 4.4% increase compared to the same period last year, reaching a substantial 28.2 billion manat, according to the Baku City Statistics Department.
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In a significant move to bolster its financial capabilities, Azerbaijan's state-owned energy company SOCAR has signed an agreement with Italy's Intesa Sanpaolo bank. The pact, which underscores growing cooperation between the two entities, marks a step forward in securing financial resources for SOCAR's ambitious projects, including its ventures in green energy.
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In the first 11 months of 2024, Azerbaijan experienced a robust recovery in its tourism sector, with 2.41 million foreign and stateless individuals visiting the country, marking a 27.4% increase compared to the same period last year, according to the State Border Service. This growth reflects Azerbaijan’s increasing appeal as a travel destination, bolstered by diversification in source markets and improved transport infrastructure.
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Azerbaijan’s industrial sector showed resilience in 2024, with total production in January-November reaching 58.3 billion manat, a 1.1% increase compared to the same period in 2023, according to the State Statistics Committee. While growth was driven by robust gains in the non-oil and gas sectors, the report underscores a gradual but notable shift in the country’s economic priorities and production dynamics.
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