Azerbaijan has signed a memorandum of understanding on future gas supplies to Albania, Croatia and Montenegro.
Gas will be supplied as part of the Southern Gas Corridor - a project that will allow Europe to diversify its hydrocarbon source supply and increase energy security, while Azerbaijan continues to buy a new market in the face of Europe.
The Southern Gas Corridor is a large project, to meet European gas needs for the next few decades.
Gas to be produced during the second phase of the Azerbaijani Shah Deniz field development is considered as the main source for the Southern Gas Corridor project. A consortium of Azerbaijani Shah Deniz gas condensate field development announced its choice as being the TAP project in late June as a gas transportation route to the European markets.—0--
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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