By the decisions of the Observation Council and the session of the shareholders, the authorized capital of Southern Gas Corridor (JSC) was increased up to $725 million, reads the statement published on the web site of the State Oil Fund of Azerbaijan (SOFAZ).
The initial capital of the Southern Gas Corridor totaled $100 million, but in February 2015 its capital was increased up to $300 million.
“During six months, 2015 SOFAZ transferred $318.75 million to the treasury account of the Ministry of Economy and Industry. As a result of that share of the Fund in the Southern Gas Corridor capital has reached $369.75 million (51%),” reads the statement.
During 2014 the Oil Fund has allocated $2.5 billion to the Southern Gas Corridor to fund Azerbaijan’s share in the Shah Deniz-2 and the Southern Gas Corridor.
* In February 2014 President Ilham Aliyev signed the decree to create the closed-type joint stock company (JSC) for the efficient management of the Shah Deniz-2 project, expansion of the Southern Caucasian gas pipeline and construction of the TANAP and TAP gas pipelines.-0--
Economics
-
The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
-
Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
-
Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
-
Azerbaijan has temporarily suspended the import of cattle, poultry, and related products from several regions following outbreaks of foot-and-mouth disease and highly pathogenic avian influenza in Europe, the Middle East, and Africa, the country's Food Safety Agency (AQTA) reported.
Leave a review