Georgia expects investments totaling $400-700 million as part of the second phase of Azerbaijani Shah Deniz field's development, Georgian Energy and Natural Resources Minister, Kakha Kaladze told journalists on December 17.
"It is envisaged to expand the South Caucasus pipeline as part of the project (Shah Deniz-2), in order to further annually supply 16 billion cubic meters of gas to Turkey," Kaladze said. "It is planned to construct a 387 kilometres long pipeline in Azerbaijan and a 55 kilometres long pipeline in Georgia, as well as to install a new pressure regulating station and two additional compressor stations in Georgia".
He noted that $400-700 million will be invested to Georgia within the Shah Deniz-2 project.
Kaladze went on to add that after the start of the pipeline's operation, Georgia will receive additional natural gas.—0—
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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