Projects for development and export of Azerbaijani gas to Europe become more expensive
Investments into implementation of the projects aimed at Azerbaijani gas export to Europe will reach $45-48 billion, Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR), told journalists.
Initially the investments were expected to reach $45 billion. But one can draw conclusion from Abdullayev’s statement that cost of the Shah Deniz Phase 2 project and the project of Azerbaijani gas export to Europe goes up. However, it is unclear if the growth is expected in the field development project or construction of a new infrastructure.
Investments into the infrastructure will cover expansion of the Southern Caucasian gas pipeline, construction of the trans-Anadolu (TANAP) and trans-Adriatic (TAP) gas pipelines. TANAP is considered the most expensive among them, in which SOCAR owns 58% shares. According to preliminary estimates, its construction will cost $11.8 billion.
Azerbaijani gas will be exported to Turkey at the end of 2018 and as soon as TAP construction is completed gas will be exported to Europe in about early 2020.—0—
Economics
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review