Italian Eni company expressed a desire to buy 20% share in the trans-Adriatic pipeline (TAP) project, one of the routes for delivery of Azerbaijani gas to Europe, Fulvio Conti, Eni Executive Director, told Reuters agency.
He said currently the talks are in progress to provide the company between 10% and 20% share in the project. “The final decision of the shareholders is expected in September-October 2013,” said Enel representative.
At present the TAP shareholders are Swiss Axpo (42.5%), Norwegian Statoil (42.5%) and German E.ON Ruhrgas (15%).
If the Shah-Deniz consortium chooses TAP as the route to deliver Azerbaijani gas to Europe, the TAP shareholders must give half of their shares to the main Shah-Deniz shareholders, which include SOCAR, BP and Total.
TAP is 800 km long. According to the preliminary estimates, investments between 2.5 to 3 billion Euro are needed for its construction.—0—
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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