Today State Oil Company of Azerbaijan (SOCAR) and BP company will sign a commercial agreement on purchase-sale within the framework of the trans-Anadolu (TANAP) gas pipeline project, a source from BP Turkey company told Turan’s correspondent.
By having signed the document BP will become a full shareholder of TANAP Co company.
The same source said that BP TANAP Ltd company will legally represent British company in TANAP, which will have 12% share in the project.
BP Turkey representative told Turan that BP’s joining the TANAP has been agreed with the Turkish side. On December 13, 2013 the tripartite documents were between the Ministry of Energy and Natural Resources of Turkey, SOCAR (the project operator) and BP.
Since today the shares of the TANAP partners are distributed as following: SOCAR – 68%, BOTAS – 20% and BP-12%.—0—
Economics
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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