SOCAR is interested in supply of Montenegro with gas, SOCAR President Rovnag Abdullayev told journalists.
“We have worked on the project of gasification of Albania. Montenegro has recently joined this project. Now we are going to work on the joint feasibility study of gasification of Albania and Montenegro and work out one expanded project, which could be more profitable,” he added.
He said SOCAR as soon as the trans-Adriatic gas pipeline (TAP) is launched in Albania, it would be more interesting to distribute this gas in Europe.
The memorandum on mutual understanding on cooperation in development of a general plan of gasification of Albania was signed between the governments of Azerbaijan and Albania on December 19, 2014.--0—
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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