According to the World Bank, during 2011 associated gas to the amount of $7.3 billion has been burnt at the torches in Iran.
The report of the Global Partnership for Reduction of Associated Gas Burning reads that during this period Iran has burnt 11.4 billion cub.m. of associated gas, which makes about a quarter of the demand in gas in such a country as South Korea.
Iran loses associated gas, because it lacks infrastructure required for collection of associate gas, its refining and transportation to the foreign markets.
According to BP company’s estimates, Iran occupies the third place in the world among the gas makers and it also imports some amount of gas. Iran is unavailable at the world and regional gas markets, though its share in the world gas trade could be easily increased up to 10%, reported Iran.ru.—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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