Aggregate incomes from gas sale from the Shah-Deniz-2 field will total almost $200 billion, SOCAR President Rovnag Abdullayev said today at the ceremony of the contract signing.
This figure includes both incomes of Azerbaijan, SOCAR and foreign companies- partners of the Shah-Deniz project received during the past 25 years.
During 25 years it is planned to export 400 billion cub.m. of gas from the Shah-Deniz-2, of which 250 billion cub.m. will be exported to Europe and 150 billion cub.m. to Turkey.
Abdullayev said that the talks on Azerbaijani gas deliveries to Europe lasted almost five years and finally the agreement has been achieved, which will lay the basis for the new era of the oil and gas industry of Azerbaijan.
Abdullayev said this is applied only to the Shah-Deniz Phase 2, but Azerbaijan has gas potential, including gas lying deep on the Azeri-Chirag-Guneshli fields (ACG), Absheron field and the expected resources on the perspective fields Shafag-Asiman, which will allow going beyond Italian, Bulgarian and Greek markets.
Considering SOCAR's forecasts, one can draw a conclusion that average gas export price within the Shah-Deniz-2 is forecasted at $500 per 1000 cub.m. At present price of Azerbaijani gas in Turkey is approximately 26-30% less, than in the Balkan countries.-0-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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