During 2013 Azerigas company built over 9,000 km of gas pipelines
In 2013 Azerigas company of SOCAR has built 9,048 km of gas pipelines to improve the gas transport infrastructure, reads the company’s report.
SOCAR reported that 1,774.7 km of gas pipeline have been repaired to ensure safe operation of the gas transport infrastructure.
1560 gas regulators and 1071 gas boxes were installed last year to increase pressure.
Azerigas is in charge of gas distribution and sale on the territory of Azerbaijan.—0—
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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