As has been already reported, two partners of the Shah-Deniz project – Norwegian Statoil and French Total – did not want to join the trans-Anadolu gas pipeline (TANAP) project.
Reliable sources told Turan that the Norwegian company has made this decision after the first results of re-evaluation of the TANAP cost. According to BP specialists, construction of 1790-km-long pipeline will cost $12 billion. Before that the project operator – State Oil Company of Azerbaijan (SOCAR) – claimed that cost of the project is estimated at $8-9 billion.
The final cost of TANAP and Trans-Adriatic pipeline (TAP) has not been announced yet. However, world media already reported citing BP that initial cost of this chain is $15 billion. It is planned that construction of TAP, which is 870-km-long, will cost the shareholders $3 billion. However, this sum does not include the costs of purchase of land plots. Thus, it is considered that cost of the Southern Gas Corridor construction will exceed $15 billion.
A source from the Caspian Barrel Oil Studies Centre told Turan that “the more expensive is the gas infrastructure, the less is profit for Azerbaijan and the Shah-Deniz partners.” Therefore, during next year the partners will work hard to make sure that construction starts in 2015 with the optimal conditions both for the customers and the contractors.—0—
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has installed the EcoPilot system by UAE-based QTAGG to reduce fuel consumption and greenhouse gas emissions, QTAGG's Commercial Director Per Österberg said on Wednesday at the event "Voyage to the Future: Decarbonization in the Maritime Sector for a Sustainable Tomorrow."
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Azerbaijan Railways CJSC (ADY) has signed a climate commitment document with the International Union of Railways (UIC) during the event "Towards a Sustainable Future with Transport Corridors: Railways in Climate Policy," held as part of COP29.
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In Azerbaijan, it is expected that the state will regulate the price of AI-95 gasoline. This was mentioned by Rauf Qurbanov, head of the Economics Department at the Ministry of Energy, during a meeting of the Parliamentary Committee on Natural Resources, Energy, and Ecology on November 19, where proposed amendments to the "Law on Efficient Use of Energy Resources and Energy Efficiency" were discussed. According to him, AI-95 could soon be included in the list of goods and services whose prices are regulated by the government.
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Natural gas currently meets 23% of global primary energy needs and plays a critical role in driving economic growth, improving living standards, and achieving environmental goals, according to Mohammed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF). He spoke during the second joint meeting of the GECF and OPEC at COP-29.
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