Trans Adriatic pipeline (TAP) consortium will announce reception of applications for construction and auxiliary works at the end of 2014-early 2015, Greek media reported on January 20, 2014.
Greek company could submit applications for participation if competent and meet the requirements.
At the end of July, 2013 the Shah-Deniz consortium selected TAP has the route to transport its gas to the European markets.
The initial capacity of TAP will be 10 billion cub.m. a year with the possibility of expansion up to 20 billion cub.m. a year. TAP will start to work since 2019.
Trans Anadolu gas pipeline (TANAP) will be built through Turkey to transport gas to the European border.
* TAP shareholders are BP (20%), SOCAR (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9%) и Axpo (5%). –0--
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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