Georgia buys more Azerbaijani gas
From January to May 2015 Georgia has imported from Azerbaijan 712,900 tons of natural gas in oil equivalent to the amount of $147,045,000, reads the report of the Georgian Statistical Committee.
Natural gas import from Azerbaijan to Georgia increased by 3.5% a year in monetary terms (the deliveries increased by 30,900 tons in oil equivalent or by 4.5%). From January to May 2014 Georgia imported from Azerbaijan 682,030 tons of gas in oil equivalent to the amount of $142,084,000.
During this period specific weight of gas in Georgia’s import from Azerbaijan constituted 60.5%.
Azerbaijan is the main supplier of this type of fuel to Georgia with the specific weight of 73.87% in the total volume of import in this category. According to the report, during five months this year Georgia has imported natural gas to the amount of $199.6 million. The remain part of gas deliveries fell to Russia and other sources.
From January to May 2015 Georgia has imported from Azerbaijan products to the amount of $243,065,000, down 5.67% against the same period last year.
Azerbaijan exports its own gas top Georgia via the pipeline connecting two countries in the Azerbaijani Gazakh region. The capacity of gas pumping via the pipeline exceeds 2.5 billion cub.m. ayear.—0—
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review