AZERBAIJAN SUPPLIES MORE GAS TO TURKEY
The South Caucasian Pipeline supplies from Azerbaijan to Turkey reach 16 million m3 per day now. Meanwhile the Iran-Turkey pipeline is being repaired. The work will require a few days.
Turkey imported 14 million m3 of gas from Iran daily before the accident. The missing volume is being imported from Azerbaijan and Russia. The import from Azerbaijan has risen by 2 million m3 per day, while the supplies from Russia (through the Blue Stream pipeline) have been increased from 22 million to 32 million m3. --12В--
Economics
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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.
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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.
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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.
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"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.
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