BP company to complete legal closure of the agreement to join the trans-Anadolu gas pipeline (TANAP) at the end of this year and possibly early next year, a source from BP company told Turan’s correspondent.
The same source said that BP and SOCAR have been holding consultations on various issues. “The most important thing that the agreement has been already reached on BP’s presence in this global project and the remaining ones are technical issues,” said the same source.
70% in TANAP project is legally owned by State Oil Company of Azerbaijan (SOCAR) and 30% by the Turkish state company BOTAS.
According to the agreement, BP will join the project with 12% (SOCAR’s share in the project will be reduced to 58%).
This year SOCAR has held the tenders to buy materials and equipment to build the pipelines. It has also selected the managing company for the entire period of construction. The companies to build separate sections of the 1800-km-long gas pipeline will be determined by the end of the year. At the end of March early April 2015 TANAP foundation will be laid. The gas pipeline construction will be completed in early 2018.—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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