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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In a strategic move to bolster mechanisms against financial crimes and terrorism financing, Azerbaijan's Deputy Prime Minister, Samir Sharifov, has been appointed as the head of the newly restructured Coordinating Council on Counter-Terrorism Financing and Other Financial Crimes.
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The Chairman of Azerbaijan Railways CJSC, Rovshan Rustamov, and the head of Iranian Railways, Jabbar Ali Zakeri Sardrudi, convened in Tehran during the Joint Azerbaijani–Iranian Intergovernmental Commission meeting to bolster cooperation on the Astara terminals, key nodes in the International North-South Transport Corridor (INSTC). The talks centered on enhancing the operational efficiency and strategic significance of these terminals to facilitate growing cargo volumes between the two nations.
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Azerbaijan is accelerating its transition to green energy through the coordinated efforts of its "Green Energy Zone" task force, which recently held its latest hybrid meeting to review progress and outline future priorities. The Ministry of Energy, reporting on Wednesday’s session, emphasized the task force's central role in implementing the 2022–2026 Socio-Economic Development Strategy, a cornerstone of Azerbaijan’s ambitions for sustainable growth.
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AzerGold, Azerbaijan’s state-owned mining company, is pursuing opportunities for strategic collaboration with Turkish firms in Africa as part of its efforts to expand its presence in the global mining sector. Recent talks between Zakir Ibrahimov, Chairman of the Board of AzerGold CJSC, and Şebnem Cenk, Head of the West and Central Africa Department at Turkey's Ministry of Foreign Affairs, highlighted the potential for a mutually beneficial partnership.
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