In 2015 State Oil Company of Azerbaijan (SOCAR) has spent over 350 million AZN for construction and major repair of the gas distribution network, reads the government’s report, which was released in March for the investors to attract money into the Southern Gas Corridor (funding SOCAR’s share).
According to the report, the funds have been spent to build over 12,000 km of gas pipeline, three measuring junctions, five gas distribution stations and three modular hydraulic power stations.
533.4 km of gas pipelines and 25 hydraulic power stations have been repaired.
As a result of the works, in 2015 Azerbaijan supplied with gas 430 settlements and 12 expanded settlements and 100,000 customers.
By January 1, 2016 number of SOCAR’s gas customers totaled 1.8 million.
By January 1, 2016 investments into the gas pipeline totaled $1 billion, while into the TAP gas pipeline – 600 million Euro.—0—
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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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.
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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.
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