In his interview to Russian RBC Vagit Alekperov, LUKoil President, refuted the statement that foreign banks cannot allot the company credit, because of the sanctions.
“We have been working with the banks to fund our projects, including the Shah Deniz project,” Alekperov added.
He said “the company has been negotiating with EBRD and we already have confirmation that the funding will be ensured.”
He also added that LUKoil has been working with the Asian countries to fund the company’s projects in Uzbekistan.
“The markets are not closed for us, but we failed to place our bonds,” he explained.
In the near future LUKoil plans to get a credit worth $500 million from EBRD and $450 million worth credit from Asian Development Bank (ADB) to fund its 10% share in the Shah Deniz-2 project.—0—
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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