The ceremony of beginning of construction of the Trans Adriatic gas pipeline (TAP), which will be used to export Azerbaijani gas to Europe, will take place in Salonika on May 17, 2016, said Minister of Environment, Energy and Climate Change of Greece Panos Skurletis.
He said several high-ranking officials will attend the ceremony, because TAP is an important project, which will create many jobs.
“TAP will export gas from the Shah Deniz Phase-2 field to Europe. About 870-km-long pipeline will be connected with Trans Anadolu gas pipeline (TANAP) on the Turkish-Greek border and will pass through Greece, Albania and south of Italy. The first gas is expected to reach Europe via TAP in 2020.
By early 2016 expenses for the TAP project already totaled 600 million Euro. Total cost of the pipeline after revision of prices will be slightly over 5 billion Euro. At first the cost was estimated at 5.6 billion Euro.—0—
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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