Greece and Azerbaijan to resume talks on DESFA
Next week the Greek government wll resume talks with State Oil Company of Azerbaijan (SOCAR) to sell a bloc of shares of DESFA, operator of the gas transportation system, Greek Ekathimerini quoted Greek Minister of Industrial Reform, Protection of Envrionment and Energy as saying.
He said the main subject of discussion will be share of DESFA, which will be sold to SOCAR.
In early May Bloomberg said that the Greek government considers the possibility of sale of 49% share of DESFA to SOCAR.
In summer 2013 SOCAR won the tender to sell 66% share of DESFA for 400 million Euro.
At present the deal is being considered by the Directorate of the European Competition Commission. The procedure will last till the end of the year.
In November 2014 European Comission started investigation of correspondence of the deal of purchasing of the share in DESFA to the EU regulations.—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