The consortium developing gas condensate field Shah-Deniz and the Azerbaijani gas buyers in Europe are going to sign the contracts for purchase-sale of gas on September 19, 2013, President of State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev told journalists.
"The ceremony of signing of the contracts for purchase of Azerbaijani gas from the Shah-Deniz Phase 2 will take place in Baku," Abdullayev said.
According to the current schedule, the first gas within the Shah-Deniz-2 project must be received at the end of 2018. Its export to the European consumers is scheduled for 2019. Azerbaijani gas will be transported to Europe via the trans-Adriatic pipeline (TAP), which was selected by the Shah-Deniz consortium as the route to transport its gas to the European markets on June 28, 2013.
The initial capacity of TAP will be 10 billion cub.m. a year with the possibility of its expansion up to 20 billion cub.m. a year.-0-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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