Azerbaijani President Ilham Aiyev said that the Azerbaijani side is not opposed to purchase of share of the Italian Snam S.p.A. group in the trans-Adriatic gas pipeline (TAP). Reuters reported that Ilham Aliyev said yesterday while answering questions of journalists at the International Exhibition Milan Expo.
“Why not? If other shareholders are going to sell their share, I do not see any problem here,” said President.
President Ilham Aliyev added that construction of the TAP will be completed in 2020.
Earlier Executive Director of the company Carlo Malakarne said in his intreview to Reuters that since June 2015 the company has started the evaluation works to buy 20% share in TAP.
TAP shareholders include BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagas (16%) and AXPO (5%). –0—
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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