SOCAR announces plans for a gas pipeline project TANAP
SOCAR has already identified which companies will have to share part of its share in the project of Transanatolian (TANAP) gas pipeline. According to today's statement of the president of SOCAR, Rovnag Abdullayev, members of "Shah Deniz" - British BP, Norway's Statoil and France's Total has officially appealed to the State Oil Company to participate in the project TANAP.
According to Abdullayev, SOCAR plans to reserve 51% from the current 80% share. But the head of SOCAR did not specify how the 29% package will be divided between the companies, and is there any chance that some company will not be involved in the pipeline company TANAP Co?
* If to take into account that all three companies are major partners of SOCAR on the project "Shah-Deniz", and that SOCAR , together with them enterers an expert group of Azerbaijani gas, most likely, BP, Statoil and Total will be among the founders TANAP Co .
The pipeline, which is over 1700 km, will have in the first phase a throughput capacity of 16 billion cubic meters, and then 22 billion cubic meters. Construction of the pipeline will begin in the third quarter of 2014, and will complete in 36 months. The initial project cost is eight billion Euro. -12С-
Economics
-
As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
-
Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
-
As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
-
Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
Leave a review