On January 13 Azerbaijan stopped gas supplies to Russia for technical reasons , and the time resumption of deliveries is unknown , according to the agency "Prime" in "Gazprom".
Azerbaijan delivered to Russia three million cubic meters of gas per day. The volume of natural gas supplies from Azerbaijan to Russia , according to preliminary estimates , in 2013 decreased by 31.5% - to 1.37 billion cubic meters.
In October 2009, "Gazprom" and SOCAR signed a contract on the sale of Azerbaijani gas. Gas supply contract started on 1 January 2010. In January 2012, "Gazprom " and SOCAR signed an addendum to the existing contract . -12D –
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review