Bulgaria is seriously interested in Azerbaijani gas transit via its territory, Bulgarian Premier Boyko Borisov said in his interview to TACC.
He said Bulgaria needs to expand the interconnectors, in particular with Greece, to transport gas through its territory.
“We have repeatedly spoken with Azerbaijani President Ilham Aliyev about the necessity to ensure the route of Azerbaijani gas deliveries to Bulgaria, so Azerbaijan can trade through Bulgaria. Azerbaijan and Bulgaria have good and friendly relationship. Creation of a gas hub in Bulgaria is absolutely real and possible. We continue working on that,” Borisov added.
IGB (interconnector Greece-Bulgaria) is the gas pipeline, which will allow Bulgaria receiving Azerbaijani gas, in particular one extracted from the Shah Deniz Phase 2.
IGB is expected to be connected to the trans-Adriatic pipeline (TAP), via which gas from the field will be delivered to the European markets. In January 2014 the TAP consortium and ICGB signed the memorandum of mutual understanding on technical cooperation. The document envisages establishment of cooperation between the two companies, which will jointly work on connection of the pipelines in Komotini district (Greece), which will open the path to new gas deliveries to the gas distribution network of Bulgaria and further to the South-Eastern Europe.—0--
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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