Azerbaijan is ready to pump oil from the field "Kashagan" to the EU, said Azerbaijani Ambassador to Kazakhstan Zakir Hashimov. "Azerbaijan is ready to provide its transit potential for friendly countries. Kazakhstan freely uses this route. This year has been restored transportation of Kazakh oil via the Baku-Tbilisi-Ceyhan oil pipeline to Europe. We believe that after the launch of Kashagan volume of transit of Kazakh oil through BTC will increase," said Gashimov in an interview with "KazTAG." According to him, the pipeline is designed to ensure that pump oil required for all quantities. The capacity of the BTC is 1.2 million barrels of oil per day. Currently, it transports oil from Azeri-Chirag-Guneshli and condensate from the Shah Deniz field and Turkmen oil. Production at Kashagan (the Kazakh sector of the Caspian Sea) was stopped in September of last year due to a gas leak. The resumption of production at Kashagan oil and gas field is expected in the second half of 2016.
Kashagan is one of the largest fields in the world, and its reserves are estimated at 4.8 billion tons of oil. -02D-
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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