The final investment decision on the Shah-Deniz-2 project will lead to strategic changes and will provide access to energy resources to Europe, British Foreign Minister William Hade, said at the ceremony of signing of the final investment decision on the Shah-Deniz-2 project in Baku.
He said creation of the Southern Gas Corridor was needed for several reasons. “These are - supplying Europe with gas throughout the entire route, discovery of new sources of energy, which will lead to reduction of dependence on a single transit system,” said Hade. He added that this will provoke competition at the European gas market, which will eventually lead to reduction of prices.—0---
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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