SOCAR plans to develop liquefied natural gas (LNG) sale and invest into the LNG terminals in Malta, SOCAR President told journalists at the International Conference IP Week, which is held in London from February 9 to 11.
Elshad Nasirov, SOCAR Vice President for Marketing and Investments, told journalists that the company will also invest into construction of the power station in Malta, which will be operating on gas. Abdullayev specified that the project is implemented with the partners – Siemens company and a local company. “We will also be involved into the LNG trade,” Nasirov added.
“LNG for the trading will be purchased at the market and we also working on the LNG operations in West Africa – Burkina Faso, Togo and construction of the pipeline from the ocean to Burkina Faso to supply the country with gas,” Nasirov said. He specified that it is planned to invest into construction of the re-gasification terminal jointly with the African partners, reported Interfax.—0—
Economics
-
According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
-
The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
-
Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
-
Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
Leave a review