The Greek Hellenic Republic Asset Development Fund, HRADF, has approved the deal on purchase of 66% shares of Greek gas distribution company DESFA by State Oil Company of Azerbaijan (SOCAR) for 400 million Euro, reported Bloomberg.
In June 2013 SOCAR bought 31% shares of DESFA from the Greek government and 35% from Hellenic Petroleum SA.
* Every year Greece consumes about 2.8 billion cub.m. of gas. The main gas supplier to the Greek market of Russian Gasprom company. In June 2013 the Shah-Deniz consortium selected the route to transport Azerbaijani gas to Europe via TAP, which will pass through Greece, Albania and Italy. Gas transportation via TAP will begin since 2019.—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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