In quarter 1, 2016 SOCAR Gas (SOCAR’s daughter company SOCAR Turkey Energy) sold 330.4 mcm of gas to the amount of $84.2 million at Turkey’s local market, Vagif Aliyev, chief of SOCAR’s Investments Department, said yesterday at the meeting with local NGOs.
“In quarter 1, 2016 sale of SOCAR’s natural gas in Turkey totaled 330.4 mcm. Total income from gas sales reached $84.2 million,” he added.
According to the agreement with the Turkish side, in 2016 the volume of gas, which SOCAR could sell at Turkey’s local market, totaled 1.2 bcm.
The company supplies Petkim petrochemical complex with gas.
At the end of 2014 SOCAR Gas received a license from Turkish regulating agencies for sale of gas at the local market.—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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