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 Azerbaijan, there has been an observed increase in the price of flour. In May, a 50-kilogram sack of flour cost 25-26 manats, but now it has risen to 29 manats. This increase in the price of flour is also reflected in the data from the State Statistics Committee (SSC).
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Azerbaijan and Israel have engaged in discussions to advance cooperation in the field of green energy, Azerbaijan's Energy Minister Parviz Shahbazov announced on the social network "X." During the meeting with Israeli Minister of Regional Cooperation David Amsalem, both sides reviewed ongoing cooperation in the hydrocarbon sector, discussed renewable energy projects currently being implemented in Azerbaijan, and explored prospects for enhancing bilateral energy ties.
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The Milli Majlis of the Republic of Azerbaijan has introduced significant amendments to the nation’s food safety law, aiming to enhance regulation over the production and importation of alcoholic beverages, particularly vodka. The amendments, ratified by President Ilham Aliyev, are intended to ensure compliance with stringent safety and economic criteria, reflecting the government's commitment to maintaining public health standards and fiscal accountability.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved amendments to the list of specialized medical institutions authorized to perform donor organ transplants. The changes, guided by the eighth paragraph of Article 119 of the Constitution of Azerbaijan, were announced in resolutions No. 337 and No. 338, signed by Prime Minister Ali Asadov.
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