This year the administration of Total E&P Azerbaijan company, which is in charge of exploration and development of the gas condensate field Absheron, stated that the first gas is planned to be extracted on the contract area in 2020.
At the “Oil and Gas Week 2013” in Baku Christian Gudiselli, General Manager Total, said the first gas will be extracted from the well at the end of 2020. He said at the first stage it is planned to extract 3-5 billion cub.m. of gas a year.
Total General Manager is aware that the first gas from the Shah-Deniz Phase 2 will be exported to Europe no earlier than 2019. Almost a year and a half – till the end of 2020 – is needed to achieve the planned production. Will the shareholders of SCP, TANAP and TAP make a decision to expand the gas pipelines right after that? Of course not. The pipelines will not be expanded earlier than 2024. The conclusion is that extraction on the Absheron field cannot commence before that, because one cannot export the extracted gas via the alternative routes.—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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