The financial agreement on the trans-Adriatic gas pipeline (TAP) will be signed today as a part of the ceremony to authorize the Shah-Deniz-2 project.
A source from SOCAR told Turan that in August 2012 three Shah-Deniz partners (SOCAR, BP and Total) signed the initial financial agreement with the TAP shareholders that if the consortium chooses the pipeline as the route to deliver Azerbaijani gas to Europe, then in the future they will have to assign 50% of their shares in the pipeline to the Shah-Deniz shareholders. On June 28, 2013 the consortium made a choice in favor of TAP. Soon TAP made a juridical decision to assign 50% shares to the Shah-Deniz shareholders.
By signing the financial agreement SOCAR, BP and Total will commit themselves to fund their shares in TAP. The companies own 20%, 20% and 10% shares, respectively, in the TAP project.—0—
Economics
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Azerbaijan and Israel have agreed to establish a working group on the development of cooperation in the field of transport, Minister of Digital Development and Transport Rashad Nabiyev said on Friday on the social network "X".
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Discussions on "green energy" were held on November 22 in Istanbul, during the energy forum, involving Turkey's Minister of Energy and Natural Resources Alparslan Bayraktar, Georgia's First Deputy Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili, Bulgaria's Minister of Energy Rumen Radev, and Azerbaijan's Minister of Energy Parviz Shahbazov.
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A meeting between Azerbaijan's Minister of Energy Parviz Shahbazov, Turkey's Minister of Energy and Natural Resources Alparslan Bayraktar, and Bulgaria's Minister of Energy Vladimir Malinov took place on November 22 in Istanbul, within the framework of the international energy forum, according to Azerbaijan's Ministry of Energy.
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Consumer prices in Azerbaijan surged significantly in October 2024, underscoring the impact of both local and global inflationary pressures. According to the State Statistics Committee, the Consumer Price Index (CPI) for October 2024 reached 103.4% compared to the same month last year. Key categories contributing to the rise include food, beverages, and tobacco, which increased by 2.6%, non-food items by 2.1%, and paid services by a substantial 5.8%.
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