In 2016 International Transport Corridor Europe Caucasus Asia (TRACECA) transported 7.9 million tons transit cargo, which is 16.8% less than in the previous year, the State Statistics Committee.
From the transit the railway transport and the Shipping Company saved 189 million 177.4 thousand manat. This is 52% more than in 2015. Revenue growth is associated with the devaluation of the manat: transport companies perform transit of goods in hard currency and income is recorded in the accounting records in the local currency.
Azerbaijan is a member of the TRACECA transport corridor project, actively supported by the European Union. The corridor provides cargo owners more convenient tariffs for transportation. Reduction in the volume of traffic on this corridor is due to the weakening of trade relations of the countries located in this corridor in connection with the fall in global crude oil prices. -----08D
Economics
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Azerbaijani state power company Azerenerji, SOCAR Trading, and Italy's Ansaldo Energia have signed a trilateral agreement on carbon credits, Azerenerji announced on Friday.
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The SOCAR-UNIPER joint venture inaugurated a 65 MW steam generator unit at the "Ethylene-Polyethylene" plant on Friday as part of activities held during COP 29. The project, aimed at boosting energy efficiency, is a significant milestone for the joint efforts of SOCAR and UNIPER in Azerbaijan’s chemical industry.
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French energy giant TotalEnergies is considering participation in solar and wind power projects in the Nakhchivan Autonomous Republic of Azerbaijan, a move discussed during talks in Baku on November 15 between TotalEnergies CEO Patrick Pouyanné and Azerbaijani government officials.
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Azerbaijan's Ministry of Energy, China Energy Overseas Investment Co. Ltd., and SOCAR Green LLC have signed an agreement to implement a 160 MW solar power project in the Fizuli district, Economy Minister Mikayil Jabbarov announced on social media on Wednesday.
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