In 2025 Azerbaijan’s export potential will total as minimum 40-45 billion cub.m. of gas, Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR), said last week in Istanbul.
Abdullayev said that gas resources in Azerbaijan total over 3 trillion cub.m., which contributes to development of the country’s export potential.
SOCAR has earlier evaluated Azerbaijan’s gas resources at 2.65 trillion cub.m.
“We need a new gas pipeline to export this volume of gas,” Abdullayev said.
He added that at the first stage 16 billion cub.m. of gas will be transported in transit via the Trans-Anadolu (TANAP) gas pipeline.
“In the future we will consider the possibility of increase in gas deliveries via TANAP up to 30 billion cub.m.,” Abdullayev said.
TANAP envisages transportation of gas from the Shah-Deniz field to Europe via Turkey. The initial carrying capacity of the pipeline is expected to reach 16 billion cub.m. a year. About 6 billion cub.m. will be delivered to Turkey and the remaining volume to Europe.—0---
Economics
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
Leave a review