
Reduction of Azerbaijani gas for Greece impossible, says SOCAR
At present we cannot reduce Azerbaijani gas price for Greece, which will be purchased and exported to the country via the trans-Adriatic gas pipeline (TAP), Elshad Nasirov, Vice President of State Oil Company of Azerbaijan (SOCAR), for Investments and Marketing, told journalists.
He said that first of all such a reduction of prices does not correspond to the international practice.
“If the contract was concluded by 25 years, then it envisages change of gas prices, in case if the market situation changes. But this happens only as soon as gas starts coming in. Right now Greece does not receive any gas, so there is no use to talk about changes,” he said.
Nasirov also added that reduction of purchasing prices depends neither on the Greek, nor on the Azeri side.
“The price in the contract has been approved by the Greek company and the consortium of all the companies, which have conducted talks on gas deliveries to Greece. The mechanism has been worked out and signed between the Greek company and the so-called export negotiation group. When the contract has been signed, the group ceased to exist, because the talks have been completed,” he explained.
Speaking about Greece’s demands to raise fees of Azerbaijani gas transit through its territory, SOCAR’s representative said this issue must be solved by the EU.
Panayotis Lafazanis, Greek Minister of Production, Environment and Energy, said that the Greek government supports TAP construction, but considers the profit the country could derive from transit of natural gas through its territory insufficient.
According to Turan, there is no fixed price of Azerbaijani gas, which will be exported from the Shah Deniz-2 via TAP, for Greece. There is a special formula of gas price formation, a source from BP-Azerbaijan told Turan. The prices will be corrected every quarter on the basis of this formula.—0—
Economics
-
Azerbaijan’s corporate sector needs to develop an appropriate system for assessing employees, according to Jalal Gasimov, CEO of PASHA Holding. Speaking at the Human Development Forum in Baku, Gasimov emphasized the importance of moving beyond merely evaluating employees based on performance outcomes.
-
The launch of the Azeri Central East (ACE) platform in Azerbaijan's Caspian Sea shelf marked an important milestone for BP in 2024, said BP CEO Murray O'Kinkloss on February 11, presenting the company's 2024 report.
-
Cargo transportation along the Middle Corridor (Trans-Caspian International Transport Route, TMTM) reached a record 3.3 million tons in 2024, marking a 20% increase year-on-year, according to the Secretary General of the International Association "Trans-Caspian International Transport Route" Khaydar Abdikerimov.
-
Azerbaijan’s national carrier AZAL and Israel’s El Al Airlines have announced a new partnership under a codeshare agreement, allowing passengers of both airlines to access joint flights, the carriers said in a statement on Sunday.
Leave a review