EU Energy Commissioner Oettinger welcomes the ratification of the TANAP agreement by the Azerbaijan parliament: "This Decision to ratify the TANAP agreement shows the concrete determination of Azerbaijan to bring its gas to Europe. This pipeline will mean that gas is brought to Europe's border, to then freely circulate within the European Union. It is a pleasure to welcome Azerbaijan, and more especially SOCAR, to the European Union's energy market", he said.
TANAP will take gas from the Eastern Turkish border to the Western Turkish border, providing for stable transit across the whole country. The project will link to the expanded Southern Caucasus pipeline starting in Azerbaijan to a variety of proposed pipelines in the European Union. TANAP will contribute to both Turkey's and the EU's security of supply. -0-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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