Azerbaijan Sees Moderate Growth in Nominal Incomes in First Nine Months of 2024

Global food prices decreased in 2024, but Azerbaijan bucked the trend, recording a rise in food expenditures. Experts believe this necessitates urgent expansion of agricultural production to safeguard the domestic market.

Italy, one of the European Union's largest economies, solidified its position as a key importer of Azerbaijani natural gas in 2024, despite a notable decline in domestic gas consumption. The country imported 58.7 billion cubic meters (bcm) of natural gas, meeting most of its annual demand of 61.7 bcm—a 2.5% drop compared to 2023. This data, reported by the Italian energy market regulator GME, highlights shifts in Italy’s energy sourcing and consumption patterns.

BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.

SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.