Turkey has received the coordinates of the onshore section of the Turkish Stream gas pipeline project, Turkish Energy Minister Taner Yildiz told Sputnik Turkey on Monday.
The Turkish Stream, a proposed 1,090-kilometer (677-mile) natural gas pipeline running from Russia to Turkey via the Black Sea, is expected to become operational in December 2016.
"Gazprom [Russia's energy supplier] provided the coordinates of the gas pipeline segment last week, as per our request," Yildiz said.
The Turkish energy minister said he expected construction plans for one of the four pipeline branches to be made available this week following the completion of feasibility studies for the project.
"The capacity of this branch of the Turkish Stream is expected to be somewhere around 16 billion cubic meters," Yildiz said.
The entire project, agreed on in December 2014, is estimated to have an annual capacity of 63 billion cubic meters of gas, of which 43 billion is to be earmarked for Turkey.—0--
Economics
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The new law on "Political Parties," adopted two years ago, came into effect early last year and has been criticized by the Venice Commission, is already making its impact felt. On December 4, the activities of two political parties—the Freedom Party and the Party of Free Democrats—were halted through court orders. The Ministry of Justice cited discrepancies in the documentation of these parties as the reason for its appeal to the court.
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In the first ten months of 2024, Baku's trade turnover registered a 4.4% increase compared to the same period last year, reaching a substantial 28.2 billion manat, according to the Baku City Statistics Department.
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In a significant move to bolster its financial capabilities, Azerbaijan's state-owned energy company SOCAR has signed an agreement with Italy's Intesa Sanpaolo bank. The pact, which underscores growing cooperation between the two entities, marks a step forward in securing financial resources for SOCAR's ambitious projects, including its ventures in green energy.
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In the first 11 months of 2024, Azerbaijan experienced a robust recovery in its tourism sector, with 2.41 million foreign and stateless individuals visiting the country, marking a 27.4% increase compared to the same period last year, according to the State Border Service. This growth reflects Azerbaijan’s increasing appeal as a travel destination, bolstered by diversification in source markets and improved transport infrastructure.
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