Foreign companies are reducing their activities in Azerbaijan – the Ministry of Taxes of Azerbaijan informs on the latter two cases. The company Commonwealth Oil & Gas Company (USA) is closing the local office. Its lenders are asked to contact within 60 days to the address Baku, Sabail district, A. Zeynalli Street 14.
The local branch is also eliminated by the Irish company Merton Investments Ltd, inviting creditors to submit claims within 60 days to the address: Baku, Khatai District, Yusif Safarov Street, 1. --17D-
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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