Nabucco is another intrigue, which will be solved next year, because we have two more options of transportation of gas from Azerbaijan to Europe, Azerbaijani Foreign Minister Elmar Mammadyarov said in his interview to EU Reporter.
"Nabucco West to the Austrian Baumgarten and TAP pipeline up to Italy are another options," he said. Minister added that the decision will be made by the companies-members of the consortium next year. The volume of gas, which will be transported from the Azerbaijani sector of the Caspian Sea will be much smaller, than the volume of gas delivered through the South Stream, Mammadyarov said.
Azerbaijani Foreign Minister said energy is the key element of cooperation between EU and Azerbaijan. "Jose Manuel Barrozu, President of European Commission, has visited Baku. Azerbaijani President Ilham Aliyev and President Barrozu have signed a very important document on strategic partnership between EU and Azerbaijan aimed at support of the South Corridor project and energy cooperation," Minister said. He added that not only energy projects, but development of the entire region and a strategic partnership between Azerbaijan and EU could be important not only for Azerbaijan and EU, but also for its members.
"The talks with the European Commission continue and after signing of the TANAP agreement (trans-Anadolu gas pipeline), we believe that by 2018 natural gas from the Caspian Sea till reach the European borders, including Bulgaria," Azerbaijani Foreign Minister said. He added that he does not like politicization of energy projects, but "energy is a part of politics."-0-
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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