The Iraqi Kurdistan Minister of Natural Resources, Ashdi Havrami, said the region"s gas resources could be easily used for export to Turkey and Europe.
The Nabucco project is to cost EUR 7.9 billion. The construction is to start in late 2011. The throughput is to be 31 billion m3 per annum. The supplies are to start in 2014.
The gas main will be built in two stages. Stage 1 (2011) will include construction from the Turkish border to Baumgarten, Austria (2,000 km long). Stage 2 (2014-2015) will include construction between Turkey and Georgia and Turkey and Iraq. The construction at Stage 1 will start in Ankara.
Last week Nabucco Pipeline International announced that Iran was no longer considered as supplier of gas to Nabucco. --0--
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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