Azerbaijani gas will be cheaper, than Iranian or Russian, said Kenan Yavuz, head of SOCAR Turkey Enerji, member of Board of Petkim petrochemical holding.
Yavuz told Turkish Haberturk newspaper that SOCAR invests capital in various and sometimes risky projects. He added that at the Turkish market SOCAR is involved in manufacture of petrochemical products. It plans to generate power at the Izmir power station, distribute fuel and natural gas and provide logistic and transport services. The company has bought media assets (newspaper and television) at the local market.
He said SOCAR plans to launch the trans-Anadolu pipeline (TANAP) in 2018. By that time the company’s investments into the Turkish projects will reach $17 billion.
SOCAR’s partners in development of the Shah-Deniz gas condensate field have submitted their preliminary intentions concerning purchase of the share in the TANAP project. According to the preliminary information, the partners are going to distribute 29% share in TANAP as following: Statoil and BP – 12% each and Total – 5%.—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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