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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Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
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Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
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Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
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The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
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