Consortium for the development of Azerbaijani gas condensate field "Shah Deniz" started assessing the legal obligations of pipeline projects Nabucco West and Trans Adriatic Pipeline (TAP), designed to transport gas to Europe, reads the report of the consortium "Shah-Deniz" (operator - BP) distributed on May 2 in Baku.
According to the report, the assessment of legal liability is one of the next important steps towards the implementation of the project "Southern Gas Corridor".
After the presentation at the end of March this year the primary offerings by the consortiums Nabucco gas pipeline and the Trans-Adriatic Pipeline (TAP) began advanced talks with a consortium to develop the field "Shah Deniz". These proposals were approved by shareholders and from that moment began to proposals that create legal liability.
Consortiums of two gas pipelines proposed to provide annual transportation to Central and Southern Europe 10 billion cubic meters of Azeri gas per year. Currently, the consortium "Shah-Deniz" completes an assessment of these proposals.
It is expected that a final decision on the pipeline will be made by the end of June 2013. - 12D –
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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