Russia and Iran consider the possibility of gas swap to the north of Iran through Azerbaijan and construction of the gas liquefaction plant on the south of the country, Alexander Novak, Energy Minister, told journalists yesterday.
“Today we considered the same perspective direction of gas swap to the north of Iran through Azerbaijan with the possibility of construction of the gas liquefaction plant on the south of Iran. We plan to receive an equivalent volume of liquefied gas, which will be exported to the South Eastern Asian markets, which in the future will have higher gas consumption rate,” he said.
“These projects, definitely, must bring such a synergy effect of raising efficiency and reduce costs for transportation of hydrocarbons, oil and gas,” Novak added.
It was earlier reported that Gazprom is interested in development of the general scheme of Iran’s gas industry development and participation in the extracting projects on the territory of this country and construction of the LNG plant.—0—
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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