Today in Istanbul there was a ceremony of signing the loan agreement between SOCAR and 23 financial institutions totaling $ 3.29 billion in the project of building a new refinery, Star, in Izmir.
According to the report by SOCAR Turkey Energy ("daughter" of SOCAR), the Turkish side in the signing was attended by Energy Minister Taner Yildiz, Minister of Science and Industry Fikri Ishik, and Azerbaijan was represented by Energy Minister Natig Aliyev, the Minister of Economy and Industry Shahin Mustafayev, SOCAR head Rovnag Abdullayev, the Executive Director of the State Oil Fund of Azerbaijan Shahmar Movsumov, the head of the petrochemical complex Petkim, SOCAR Investment Department head Vagif Aliyev, SOCAR Vice President Suleyman Gasimov and the President of SOCAR Turkey Energy Kenan Yavuz.
Note that of the total loan package, $ 2.69 billion was issued for 18 years (grace period - 4 years) and the remaining $ 600 million – for 15 years (grace period - 4 years). The loan package is formed from the funds of export-import banks (Spain, Italy, Japan, the U.S. and South Korea) and 16 commercial and investment banks. -12D-
Economics
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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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