Yesterday SOCAR and Romanian Transgaz signed a mutual memorandum, reported State Oil Company of Azerbaijan (SOCAR).
The document envisages cooperation between the companies in field of gas transportation and gas transit using Romania’s capacities.
The memorandum also envisages the possibilities of export LNG and natural gas to the Romanian market and its sale it on the basis of long-term or spot contracts, including the potential LNG terminals within the framework of AGRI project.
It has been mentioned during the signing ceremony that the memorandum will open the possibility for deepening cooperation between SOCAR and Transgaz and expand operations on the natural gas market of southeastern Europe and the Balkan region.
“The memorandum will also contribute to expansion of cooperation between the countries in field of energy, in particular, gas supply, transportation, marketing and sales,” said the same source.—0—
Economics
-
The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
-
Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
-
Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
-
The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
Leave a review