JSC Sangachal Garadagh Oil & Gas Terminal announced the conversion to a limited liability company.
Shares with a total nominal value of 30.6 million manats were eliminated, but the company's authorized capital is maintained at the same level.
The terminal is owned by LLC Qafqaz Trans Service - subsidiary of the company Azersun Holding.
The Oil and Gas Terminal was established in 2007 with the participation of the state-run Azerbaijan Investment Company (AIC). Then, AIC invested $ 9 million or 10.2 million manat at the rate of the time in the new company’s capital.
At the end of 2012, AIC sold a 25% stake in CJSC Sangachal Garadagh Oil & Gas Terminal to another co-founder at a price that was not disclosed to the public.
This terminal is for providing transportation of Kazakh and Turkmen oil and condensate via the Baku-Tbilisi-Ceyhan oil pipeline and to the Black Sea ports.
The first phase of the terminal was designed for 12 million tons, followed by the possibility of expanding it to 40 million tons. The total cost of the project was announced in the amount of $ 90 million in 2007. ----08B
Economics
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
Leave a review