Russian gas supplies to the AzMeCo company, methanol plant in Baku’s Garadag region, are scheduled for September 20-21, Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR), told journalists.
He said according to the agreement signed between Russian Gasprom company and AzMeCo, the volume of deliveries will total 1-2 billion cub.m. of gas a year. “This will depend on the needs of the Azerbaijani company,” SOCAR President explained.
On September 11, 2015 Gasprom and AzMeCo signed the partnership agreement for natural gas supplies. The contract has been signed by Yelena Burmistrova, Director of Gasprom Export daughter company, and Nizami Piriyev, chairman of Board of AzMeCo.—0-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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