Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR) has named the company, which is going to leave the European pipeline project Trans-Adriatic Pipeline (TAP), the last link of the Sothern Gas Corridor (SGC).
SOCAR President said in his last exclusive interview to private ANS TV channel: “Statoil has decided to fully leave TAP project and one company is ready to buy its share,” added Abdullayev.
“Several companies have already expressed interest in buying Statoil’s share. And I think it will be better if several companies buy this share,” said SOCAR President.
At the IV World Gas Congress on June 4, 2015 Carlo Malakarne, Executive Director of Italian Snam compay, said that Snam is going to buy 20% share in TAP project. Later he said that one of the companeis has expressed a desire to leave the project.—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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