Yesterday Kyrgyzstan parliament approved the agreement between the Kyrgyzstan and Russian governments to transfer ownership of the national gas operator Kyrgyzgas to Russian Gasprom for one dollar in the first reading.
The document was signed in July 2013 in Moscow. According to the agreement, all assets of Kyrgyzgas, including gas pipelines, gas distribution stations and underground storages, are transferred to Gasprom. Kyrgyzstan guarantees an exceptional right of Russian company to import natural gas into the country and protection of investments of Gasprom and its daughter companies from expropriation and nationalization.
Russia has committed itself to invest at least 20 billion rubles ($608 million at the current rate) into upgrade of Kyrgyzgas gas infrastructure within five years and will take upon itself all debt obligations of the company. By July 1, 2012 the account payable of Kyrgyzgas totaled about $40 million.
Economics
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Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
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The world faces a shortfall of up to $87 billion annually for climate adaptation efforts by 2030, according to Lord Livermore, Financial Secretary to the UK Treasury. Speaking at the panel discussion titled "Mobilizing for Climate Action: Countries, Multilateral Financial Organizations, and the Private Sector Implementing the Paris Agreement," Livermore highlighted the urgent need for increased investment in adaptation measures.
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In the first nine months of 2024, Azerbaijan’s alcohol and non-alcoholic beverage production totaled a mere $53 million, underscoring the dismal outcomes of the State Program for the Development of Winemaking (2018–2025). Despite being endorsed by the president in 2018, the program has delivered lackluster results despite formal state funding. In essence, the state intervention intended to foster growth in the industry has yielded minimal success.
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Azerbaijan and EIB Global, the European Investment Bank’s external branch, signed a Memorandum of Understanding (MoU) at the COP29 climate summit to modernize and expand the Baku metro network, officials said on Thursday.
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