Azerbaijan state energy company SOCAR plans to announce a tender to find a company to conduct a feasibility study on Albania's gas infrastructure plan as part of European efforts to reduce dependence on gas from Russia.
"SOCAR will announce this tender in the next three months," Murad Heydarov, adviser to SOCAR's president, told Reuters.
"We should draft the feasibility study before the end of 2015, and if this project is considered effective, we will start Albania's gasification project in March next year."
Heydarov estimated the project's cost at "several hundred million dollars".
The general plan of feasibility study of Albania’s gasification was discussed in Tirana on February 18, 2015 under SOCAR’s chairmanship. SOCAR reported that the discussion has been held within the framework of the memorandum signed between Azerbaijan and Albania on December 19, 2014. The working group on the general plan of the feasibility study of Albania’s gasification has been created after discussion. The next session on this problem will take place in April 2015.—0---
Economics
-
Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
-
Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
-
The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
-
The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
Leave a review